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OCTOBER 2015 – Launch of Credit Union Services for the British Armed Forces

15th October 2015 marks the launch of the provision of Credit Union Services for the British Armed Forces by the London Mutual Credit Union. London Mutual Credit Union is one of three credit unions in Britain selected by the Ministry of Defence to help Armed Forces personnel to save with and pay off loans from a credit union directly from their salary or pension.

Significantly, in conjunction with this important event, Lance Sergeant Johnson Beharry VC has joined London Mutual Credit Union and thus becomes one of our first members to join through the new scheme.

In 2005, Lance Sergeant Johnson Beharry VC was awarded the Victoria Cross for twice saving members of his unit, the 1st Battalion Princess of Wales’s Royal Regiment, from ambushes.

Johnson Beharry VC said: “I am pleased to join London Mutual Credit Union and I look forward to spreading the word about this new scheme for military personnel. It is often difficult for people in the armed forces to gain access to financial services, especially those serving overseas who have little or no way of getting credit in the UK. By joining a credit union, armed forces personnel will be able to access affordable loans when they need them and to plan for the future by saving directly from their pay packets through payroll deduction.”

Lucky Chandrasekera, Chief Executive of London Mutual Credit Union, said: “We are delighted to be offering credit union services to the British Armed Forces and we are happy to welcome Johnson Beharry VC as one of our first members through the new scheme. We look forward to helping many military personnel benefit from safe savings and affordable loans.”

The credit union scheme is open to all serving members of the British Armed Forces, those receiving a pension as a result of being employed as a member of the British Armed Forces and serving members of the Reserves.

For more details about this facility, please click here.

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Learn more about applying for a low-cost loan or getting into the savings habit, as well as our products available exclusively to those living or working in the local area.

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