General Enquiries: 020 7561 1786 or Email: info@credit-union.coop      |       CU Loan Repayment Issues Only: 020 3763 8397  or Email: loansupport@credit-union.coop

Young Savers

We believe that it’s important to teach the importance of savings from a young age. So whether you are looking to open an account for a child, grandchild or looking to encourage your children to open their own account, we can help. So get in touch and start them on the right path today.

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Young Savers

We believe that it’s important to teach the importance of savings from a young age. So whether you are looking to open an account for a child, grandchild or looking to encourage your children to open their own account, we can help. So get in touch and start them on the right path today.

Young Savers

Accounts

It is becoming increasingly important to teach your children the value of saving for the future.

Young Saver Accounts

Do you have a child under the age of 18 years of age? Would you like to encourage them to learn how to manage money & realise the value of saving? So do we.

You can save for them in many ways including using some or all of your Child Benefit to go to their Young Saver account.

To open your child’s account simply fill in the form below.

 

Young Saver Account

Save with your Child Benefit

You can save with your Child Benefit paid directly to your credit union account. If you are already a member then complete the form below. You will need your membership form and your child benefit reference number for the form.

Find out how

To open a young savers account you (the trustee) must fulfil at least one of the criteria below. The young person does not need to fulfil any of the criteria listed below

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Live, work, study or worship in any of the following areas:
  • Barnet
  • Brent
  • Camden
  • City of London
  • Enfield
  • Hackney
  • Haringey
  • Islington
  • Waltham Forest
A member or employee of The Co-operative Group (The Co-op) in London and the South East Region.

This includes:

  • Berkshire
  • Buckinghamshire
  • East Sussex
  • Greater London
  • Hampshire
  • Isle of Wight
  • Kent
  • Oxfordshire
  • Surrey
  • West Sussex

If you live in this region and shop at a Co-op store from time to time then you can become eligible to join our Credit Union by instantly joining the Co-operative Group by visiting https://membership.coop.co.uk/register;

Become a member of UNITE the Union or UNISON

All members of UNITE the Union or UNISON in the Greater London Region are eligible to join.

Employees of the following organisations anywhere in the UK:
  • Action on Hearing Loss/RNID
  • Bahay Philippino Housing Association
  • Barnet & Chase Farms Hospitals Trust
  • Barts Health NHS Trust
  • BPP Education
  • Circle Housing Group
  • Citizens Advice
  • Co-operative Group South East Region
  • Dorchester Collection
  • Elior Catering
  • Freemantle Trust
  • Genesis Housing Association
  • Great Ormond Street Hospital
  • Greenwich Leisure
  • Guardian Media Group
  • Guarding UK
  • Homerton NHS Trust
  • Islington & Shoreditch Housing Association
  • Lineage
  • Murphy Group
  • Middlesex University
  • Moorfields NHS Trust
  • One Housing Group
  • Orbit Group
  • Origin Housing
  • Picturehouse Cinemas
  • Radio Taxis (London)
  • RNIB
  • Rydon
  • Royal Free London NHS Foundation Trust
  • Royal Air Force Museum
  • Southern Housing Group
  • TfL Transport for London
  • UCLH NHS Trust
  • Unison
  • Unite the Union
  • University College London
  • Veolia Environmental Services

Making deposits into your Credit Union account.

We are not able to have DWP or HMRC payments made to your credit union account, other than child benefit.

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.

Our Bank Name: The Co-operative Bank

Our Sort Code: 08-92-50

Our Account Name: 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.

Our Account Number: 67003299

Your Reference: 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.

Cash

We only accept cash for initial deposits. If you make your first deposit by cash the maximum we can accept is £50.

Cheques

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.

Save with your Child Benefit

Once you have your credit union membership number you can save by having your Child Benefit paid directly to your savings account. complete the form below. You will need your membership number and your child benefit reference number to complete the form.

Find out how

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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