British Credit Union Historical Society

Crown Savers Credit Union Ltd

Crownsavers exists to encourage savings and provide access to low interest borrowing, enabling its members to save and prosper whilst promoting the ideas and ideals of financial co-operation within organisations in the Borough of Lewisham.

Lewisham Employees' Credit Union (Crownsavers) has been providing its services for 18 years. It was founded in July 1997 with the full support and a small grant from Lewisham Council to enable the Credit Union to offer an additional benefit to it’s employees, at the start the Credit Union was open just to those employees working for the Council. The Credit Union officially extended its common bond a few years later to include Lewisham University Hospital and Lewisham College.

In 2009 the credit union again extended its common bond to everyone employed in the London Borough of Lewisham.
Crownsavers now operates successfully, with current active membership of 1500 that includes growing family and junior account holders, members asset of over £1.8m and a loan portfolio of £1.4m.


London Mutual Credit Union Ltd

 Established in 1982 to provide Credit Union services to employees of the London Borough of Southwark It has merged with 6 of the local Credit Unions. Now it is the only Credit Union in Southwark, Lambeth, and Westminster & Camden providing wide range of products and services together with five dedicated branch offices where members could access the services. It was also the first credit union in the UK to operate a payroll deduction scheme.

2011/12 Saw the introduction of a fully automatic on-line payday loan alternative responding to the growing use of high cost credit it has saved the borrowers a tidy sum in interest rates and follow up to become members.  

As a full-service financial institution, London Mutual Credit Union (LMCU) is the largest live or work Credit Union in London, with over £19million in assets, and over 21,000 member-owners (September 2014). LMCU has 40 professional and knowledgeable employees, and is comprised of five branches and a head office in Peckham, London.  The new head office (pictured) building at 4 Heaton Road, Peckham was opened on the 24th February 2012. In 2016 London Mutual has also launched a new debit card programme, powered by Optimus Card Group. London Mutual says the new debit card scheme in partnership with MasterCard that brings true, fully functional debit cards to credit union members across the country.

In 2017 the credit union developed and implemented its own core banking system on line, telephone and mobile banking, the first credit union in England do so. The credit union is hoping in 2018 to be in a position to offer mortgages as the first credit union to do so in London and aspirations to take on the rent to own such as Bright House. 

London Plus Credit Union Ltd

Wandsworth Community Centre Credit Union Limited was established in march 1981 and served its members till June 2007.  Hammersmith And Fulham Credit Union Ltd registered in September2007 and launched its services in November 2008 in the heart of Fulham. May 2012 London Plus based in Fulham began operating in the City of Westminster, west London boroughs of Hammersmith and Fulham, Kensington and Chelsea, Wandsworth and Hounslow. Wandsworth Plus Credit Union is a trading name of London Plus Credit Union working in partnership with Wandsforth Council in south west London. In the short existence they have grown tremendously and as such are delivering competitive and affordable products to the membership, which is forever growing. They have adapted their reach in line with demand and need for the communities that they serve. Ten years on sees London Plus with over 60% of transactions now processed online. The contactless debit card works exactly as any high street bank card and being fully integrated means that they are becoming a one stop shop for all members.

A short video around apprenticeships by London Plus 

Write a new comment: (Click here)
Characters left: 160
DONE Sending...
See all comments

| Reply

Latest comments

18.08 | 14:55

I am very proud to be a part of the credit union and the ethos of people helping people.

Congratulations to No1 CopperPot.

14.07 | 04:57

A very inspiring and educational experience. It awaken my interest to serve the community.

01.07 | 13:06

As schools Development Worker for Unify Credit Union, I found the schools project resources very useful.... some really good ideas, Thank you x

23.11 | 16:41
Your CU Resources Has received 2
You liked this page