Building Co-operation in the Capital
Banking experts at the University of Greenwich are helping London's biggest community credit union to grow so that it can offer mortgages and long-term loans. The London Mutual Credit Union needs to know how to undertake complex risk assessment, manage housing finance and comply with regulations, in order to win authorisation to make home loans. The university has formed a … [Read more...]
Image: LCCU Cheif Executive Martin Groombridge (launching their new mobile phone text service) London Capital Credit Union has welcomed the latest figures from the Bank of England which show that credit unions have grown dramatically over the last decade. While the most recent figures from 362 credit unions show credit union membership and lending have more than doubled over … [Read more...]
London Capital Credit Union has had a record year, with more and more people turning to them for help with low cost loans and secure savings. The credit union has seen a 47% increase in membership in the year ending September 2014 to 10,062 members. It has also seen a 62% increase in loans to members to £5.6 million, but at the same time has seen members’ savings increase by … [Read more...]
London Mutual Credit Union, which covers the City of Westminster as well as Camden, Lambeth and Southwark, has entered into an agreement to have payroll deduction facilities with Parliament. This arrangement, which was reported by the Financial Times and launched at an event with Martin Lewis, the 'money saving expert', means that MPs and peers, their staff and support staff … [Read more...]