Tel: 020 7561 1786    |    Email: info@credit-union.coop    |   Loan Support: 020 3763 8397    |   Email: loansupport@credit-union.coop

About Us

The Credit Union is a not for profit savings and loans co-operative dedicated to promoting saving rather than borrowing. It also provides low cost loans at times of need.

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Our History

The Credit Union can trace its roots back to 1962 when it started to provide low cost loans and secure savings accounts.

London Capital Credit Union has been created by a combination of credit unions formed by the co-operative efforts of hundreds of people over many generations. Read about our history at the website of The British Credit Union Historical Society

Our primary objective is to encourage people to save, but we also provide low cost loans when people need to borrow. We are now one of the largest and fastest growing credit unions in the UK. Membership is open to anyone who lives, works, studies or worships in these areas – Brent, Barnet, Camden, City of London, Enfield, Hackney, Haringey, Islington or Waltham Forest OR is a member of, or an employee of The Co-operative Group in London and the South East Region (Berkshire, Buckinghamshire, East Sussex, Greater London, Hampshire, the Isle of Wight, Kent, Oxfordshire, Surrey and West Sussex) OR is a member of Unite the Union OR Unison in the Greater London Region OR is an employee of any one of the following organisations anywhere in the UK:

  • Advance Housing
  • Arhag Housing Association
  • Barnet and Southgate College
  • Barnet Council
  • Barnet Homes
  • Barnet Schools
  • Barnet, Enfield & Haringey NHS Trust
  • BPP
  • Brent Council
  • The Bridge School
  • Bright Horizons Nurseries
  • Buttercups Training
  • Camden & Islington NHS Trust
  • Camden Council
  • Capital City College Group
  • Catch22
  • Citizens Advice Bureau
  • City of London Corporation
  • Clarion Housing Group
  • Central North West London NHS Trust
  • Connect Education (ELT)
  • Continuity of Care Services
  • The Co-operative Group
  • Dorchester Collection
  • Duke’s Aldridge Academy
  • East London Foundation Trust
  • EMW Law
  • Enable Law
  • Enfield Council
  • Enfield School Trust
  • Enfield Schools
  • Enterprise Enfield
  • EPM Grove School
  • EPM Haringey 6th Form
  • EPM Heartlands
  • EPM Newington School
  • EPM Search Education
  • EPM St Matthias
  • EPM Stroud Green School
  • Family Action
  • Foot Anstey
  • The Fremantle Trust
  • FSCS
  • Great Ormond Street Hospital
  • Greenwich Leisure
  • Guardian Newspapers
  • Guarding UK
  • Hackney Council
  • Hackney Schools
  • Haringey Council
  • Haringey Schools
  • Help on Your Doorstep
  • Homerton NHS Trust
  • Hyde – Partners
  • Islington Council
  • Islington and Shoreditch Housing Association
  • Islington Law Centre
  • Islington Schools
  • Jewish Care
  • Legal & General
  • Lineage
  • Linklaters
  • Local Trust
  • London Energy
  • London Metropolitan University
  • Havering Mind
  • Moorfields Eye Hospital
  • Newlon Housing
  • Nico Manufacturing
  • North London NHS (BEH)
  • Origin Housing
  • Outward Housing
  • Royal Academy of Dramatic Arts
  • Reynolds Catering
  • Royal Free Charity
  • Royal Free Hospital
  • Royal Hospital for Neuro-disability
  • Royal National Orthopaedic Hospital
  • Southern Housing Group
  • Strictly Education
  • Universty College London
  • Unison
  • University College Hospital NHS
  • Veolia
  • WEA
  • Whittington Health NHS Trust
Ethics, Values and Principles

The primary objective of the credit union is to promote sound financial management by encouraging people to save rather than borrow. Unlike other financial institutions there is no minimum savings level unless you take a loan, and no minimum loan value. By encouraging saving we prevent debt. Our ‘Saver Loans’ see part of any repayment allocated to the members’ own savings account, so as the loan is paid off, the member accumulates savings. Over time members build up savings and end the cycle of borrowing. We specialise in helping people on low incomes, and/or facing problems with debt. The credit union offers a range of information and support for members in financial difficulties. The low cost loans provide a real alternative to people who would otherwise borrow using expensive bank loans, credit cards, or even payday loans. Everything we do is guided by the internationally recognised Co-operative Values & Principles.

Our Services

Anyone who saves with the credit union becomes a member of the co-operative and can use one of many of our named savings/budgeting accounts open to them. Savings can be withdrawn within 3 working days upon request. The savings form a pool of money held in trust and any member can apply to borrow from this pool of money. As we have no outside shareholders and is supported by so many volunteers it can offer low cost and flexible loans to its members.

Democracy, Equality and Fairness

As a co-operative we operate differently to other businesses owned by shareholders. Our Board of Directors are directly elected by and from our membership, on a one person one vote basis. In a conventional business the more shares you have the more votes you have meaning that only the wealthy have any real say or control. In a co-operative any member has an equal say in the running of the business. This is the reason we have different ethics, values and principles than most of our competitors in the financial services market, and why we return any financial surplus to our members in the local community rather than to wealthy individuals in offshore tax havens. These co-operative values and principles set us out as a more democratic, equal and more fair way

Financial Security

The credit union is Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Firm Ref. No. 214094. The regulation is the same as for other banks and building societies, requiring robust financial systems, training of staff, and internal/external audit systems. Insurance policies protect member’s savings from fraud, theft and dishonesty. Although volunteer led, the credit union has a compliment of staff that are highly qualified and experienced in the field. Ultimately the members’ savings are protected against business failure by the Financial Services Compensation Scheme. For further information please click here: https://protected.fscs.org.uk/

Wider Movement

Credit unions form part of the wider international co-operative movement and can be found in 118 countries, with over 270 million members. In the UK there are 280 credit unions with 1,434,000 members and around £1.8bn in assets. Further information about the wider movement can be found using the ‘Useful Links’ section of our website.

The Jeremy Hopgood Rooms, Caxton House, 129 St John's Way, Archway, London N19 3RQ
Tel: 020 7561 1786 (Multilingual advisers available)
Email: info@credit-union.coop

If you have a loan from us and need a little help managing repayments then
please call us on 0203 763 8397 to speak with one of our friendly Loan Support Officers who will find a way to help.

© 2026 LCCU  |  Complaints  |  Privacy Policy

© 2026 LCCU  |  Complaints  |  Privacy Policy

How We Decide to Whether to Offer a Loan – The Basics

The Credit Union’s primary objective is to help members avoid or escape from debt by promoting a culture of saving. When we offer loans, we only do so if the borrower agrees to save a little while they repay. The establishment of a savings habit is proven to reduce the harms and risks of long-term borrowing becoming problem debt. Basically, when we get a loan application our decision is based on the following two principles:

1. Do we trust the applicant to repay the loan?

2. Can the applicant afford the loan repayment

This guide is designed to help members understand our thinking so you can best prepare if you should need to apply or re-apply for a loan.

1. Key Points in Our Assessing Trust of the Applicant

a) Has the applicant started saving? The money we lend is members savings so, especially at busy times, we have to give priority to loan applications from members who have made at least one savings payment. That first payment is good evidence that you are a real person and helps us confirm identity.

b) Proper Proof of ID & Address? What forms of proof of identity and address has the member provided? If you are able to connect your bank account through ‘open banking as art of the loan application process it a good way of proving ID. First time loans may be required to use online Open Banking.

c) Previous Borrowing History. Has the applicant borrowed and repaid us previously? Previous good repayment record supports any application.

d) Did the applicant inform us of other money owed? Failure to list all debts in the application process is likely to result in the loan application not being approved. It suggests that the applicant is either not in control of their money or not being completely honest with us and in either case we cannot put our members savings at risk by lending. Credit Reference Agency checks are used to show us what money is owed and to whom.

e) Is the member sensible with money? When we review the bank transactions of the loan applicant, we often see patterns of expenditure that suggest the applicant is not taking a sensible approach to expenditure. Changes in the way they manage their finances would suggest that the loan would not really be necessary. We want to help people be in control their finances and do not want to lend members savings to people who are not deemed sensible with the way they spend. This may be things like gambling, excessive shopping and/or eating out/takeaway food deliveries.

f) Always be ‘up front’ in your application. Honesty pays. We do not judge.

2. Key Points in Our Assessing Affordability for the Applicant

a) Is this loan in the member’s best interest? The value of the loan application in comparison with your income is a key measure of affordability. The loan interest members pay on loans pays our staff salaries, but we are not out to profit from you, rather we want members to borrow less over time and take control of their finances.

b) Positive Bank Balance at Month End? Is there money left in the members bank account at the end of the month that would be sufficient to cover the loan repayment if approved? If not, the member must explain how the loan would become affordable, for instance, by reducing expenditure in other areas.

c) Is the applicant struggling with existing debts? When we review the bank transactions of the applicant we can see income and expenditure. If the loan applicant tells us how the loan will clear other debts and reduce their expenditure this will help us understand affordability.

d) Is the purpose of the loan considered sensible? If the applicant is not paying essential bills such as mortgage or rent then a loan for a car or holiday is likely to be unwise and unaffordable.

e) Has the applicant fully explained why they need to borrow? Always feel free to email or call us explaining the circumstances that mean you need to borrow. The reasons for needing to borrow are complex, but being honest and explaining the circumstances can often help the ordinary humans on the Loans Team at the Credit Union to be able to assess trust and affordability. You briefly explaining your thinking about affordability gives us confidence that you are thinking sensibly about money, and sometimes allows us to suggest alternatives that may well be in your best interest.

f) Is the loan to clear other more expensive debts? Credit Reference Agency checks are used to show us what money is owed and to whom. If your loan application is to pay off other debts, stop and list every one of those debtors.Work out the cost of each. Consider clearing one or two at a time if its your first Credit Union loan. Pick them off one or two at a time, the most expensive first.

g) Has the applicant stopped to think about affordability? The ‘Your Money’ section of our website provides access to a budget planner which, if used and shared, gives us good evidence of affordability. Particularly helpful for loan applicants in financial stress. We hope this gives you an idea of how we decide yes or no to loan applications. The decision is by one or more other credit union members on our Loans Panel. We hope this helps you understand our thinking so you can best prepare if you should need to apply or re-apply for a loan.

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