With interest rates on almost all kinds of borrowing having soared in the last year or so the Credit Unions own loans are ever more competitive. Demand for our low-cost loans has hit an all time high as people look for ways of reducing the cost of credit. Credit Union CEO, Martin Groombridge said, “With financial pressures on working people at an all-time high people are increasingly looking for ways to free up some cash. They are choosing credit union saver loans or home owner loans to clear off other debts thereby slashing monthly repayments.”
Credit union loans see a small part of a borrower’s monthly payments allocated to a savings account which builds up a lump sum when the loan is finished. This means people become reliant on savings rather than credit. Other financial institutions encourage you to borrow, but the credit union prioritises saving.
Membership is open to anyone living or working in London or the south east region. To join the London Capital Credit Union the regulators require you meet any one of the following criteria: