Secure Ethical Savings
We want to make money work for our members and the wider community. You can start a regular savings plan from your salary or your bank (or make a lump sum deposit) and know that your money is being used to provide a real and meaningful alternative to the very high interest rates charged by most lenders, particularly to those our communities on low incomes.
OUR SAVINGS PRODUCTS
Check out our great savings products below
The PrizeSaver account is a credit union savings account with monthly prizes. Every pound you save to your PrizeSaver account enters you into a monthly prize draw (up to £200pcm).
Employees of a growing list of employers can have savings or loan payments deducted directly from their salary. See if your employer is on the list and how easy it is for your employer to join our scheme
We offer savings accounts for your children or grandchildren below the age of 18 to encourage them to learn the value of money, the importance of saving & record keeping, and to help them practice their numeracy.
Community Investment is a way of using some of your savings to benefit the community with the Credit Union. We promote mutual self help rather than charity, & saving rather than borrowing, with the savings being pooled and “reinvested” into the community in the form of low cost ‘Saver Loans’.
Corporate Membership is for organisations rather than individuals. Businesses, charities, sole traders and voluntary groups in Barnet, Brent, Camden, City of London, Enfield, Hackney, Haringey, Islington or Waltham Forest can join
Save a regular amount in your credit union account. You can save as little or as much as you like, though we recommend at least £20pcm or £5pw.
To access our great savings plans you must be a member
Join NOW and start saving with us:
Dividends are calculated on your average savings the previous financial year between 1st of October and the 30th of September. So if your average savings was £1,000 and the dividend is 0.5% then you would receive £5 dividend to your savings account as share of our profits.
Interest rebates are paid based on any loan interest you have paid to us during the previous financial year. So if you had paid £1,000 in loan interest to us over the year and we offer a 3% rebate then you would receive £30 paid to your savings account as a share of our profits.
All dividends are paid gross of tax.
Making deposits into your Credit Union account.
Standing Order & Bank Transfer
These payment methods are suitable for one-off deposits and/or recurring payments into savings from your bank account.
The easiest way to set up a Standing Order is to use online banking or to contact your bank.
You must use your membership number (or NI Number) as the reference for every payment.
London Capital Credit Union
NB Some banks may say account does not match the name because our full name, London Capital Credit Union Ltd., is too long. You can ignore the error message and use these details.
Your credit union membership number or your NI number in order that we can credit the payment to the correct account.
Salary Savings Schemes
Many people can make regular savings deposits or loan repayments directly from salary. CLICK HERE to access the Online Salary Savings Schemes Form.
Child Benefit Payment
Did you know that you can save with your Child Benefit paid directly to your credit union account?
We only accept cash for initial deposits. If you make your first deposit by cash the maximum we can accept is £50.
Cheques should be made payable to ‘London Capital Credit Union’ or payable to yourself. We can also accept cheques payable to yourself. You should note that it will take at least 12 working days before you are able to draw on funds paid in by cheque.