News

July 17, 2017

JULY 2015 – New compensation limits

The FSCS deposit protection limit is changing from 1 January 2016 to £75,000. Deposits currently eligible for £85,000 compensation will remain protected up until 31 December 2015 to allow customers to reduce their balances if necessary. From 1 January 2016 the new limit of £75,000 will apply. For further information please visit the FSCS website.
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July 17, 2017

JULY 2015 – Visitors from Kenyan Credit Unions

LMCU welcomed a delegation of 34 credit union professionals from Kenya. As at December 2014, Kenya has got 4,965 credit unions with 5,103,231. Over 20% of the Kenyan population are now a member of a credit union.
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July 17, 2017

MAY 2015 – Southwark Smart Savers scheme

We are happy to share some more lovely news. A new initiative by the Southwark Council gives every 11 year old child who lives in Southwark a voucher worth £10 to open a savings account at London Mutual Credit Union. We believe that this monetary incentive is being provided at a critical stage, as they prepare for secondary school, and this lays the groundwork as they eventually become adult members of the Credit Union and be able to access a
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July 17, 2017

NOVEMBER 2014 – London Mutual Credit Union featured in the Guardian News

London Mutual Credit Union was featured in the Guardian News online today talking about how The Duchess of Cornwall has an account with us! Camilla was eligible to join London Mutual Credit Union because Clarence House is in the City of Westminster which is one of our catchment boroughs, and her spokeswoman says: “She uses the account to support local community projects.” The article discusses how credit unions are gaining popularity amongst those from all incomes, not just the less
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July 17, 2017

OCTOBER 2014 – 135 New church members

Here is the moment on Monday 27th October that the Reverend handed over 135 new member applications to the LMCU from the South London Citizens! Fantastic news! A group of Peckham residents brought the applications to LMCU to highlight the services offered by our local credit union as an alternative to payday lenders. This event was a joint venture by South London Citizens, Copleston, a church and community centre in Peckham, and the Church Credit Champions Network. This is the
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