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As a not-for-profit organisation providing affordable credit to the community, our loans are considerably cheaper than other providers, with lots of other benefits too!


  • Affordable interest rates that are fixed for the course of the loan, and paid on a reducing balance. This means your interest payment always gets smaller.
  • No set up costs, hidden charges or fees for early repayment
  • Free loan protection insurance, so your loan is repaid at no additional cost in event of death 
  • Negotiable repayment terms in case your situation changes
  • Text message update service


Use our easy Loan Calculator now to find out just how little you’ll have to pay!


How much does borrowing cost at LCCU? 

Loan Value

Interest per month


£5,000 +



£3,000 – £4,999



£1,500 – £2,999



£50 – £1,499



How does that compare to other providers?

LCCU is 154 times cheaper than your average payday lender!

APR (%)

London Community Credit Union 26.8

Average Doorstop Lender

Average Payday Lender



Frequently Asked Questions

Who can apply for a loan?

 All members over 18 can apply for a loan.

How do I apply?

To apply for a loan simply fill out an online application form, or pick up an application form in branch.

You will be asked to submit additional documents in branch.

How much can I borrow?

Loans start from £100, and extend to £7,500 on top of the value of your savings.

How long will it take to arrive?

We’re continually speeding up our loan processing, so now you’ll hear back even quicker! Once the application has been received you will hear back in 1 – 5 working days.

A text message services will keep you updated on the progress of your loan at each stage.

Tell me about the Free Loan Payment Insurance

Loans taken with the credit union (up to £10,000) are protected by the credit union for free, so that in the event of death your loan is fully paid-off, leaving no additional burden on your family.  Terms and conditions apply.

 What if I am unemployed or have a bad credit history?

The credit union operates a responsible lending policy. Loans are reviewed on an individual basis, and accessed against ability to repay and your history with the credit union, as well as traditional credit scoring. Those that are unemployed or with poor credit history will not automatically be excluded.

Well managed loans with the credit union will work to improve your credit scoring.

 What happens if I can’t pay?

 We appreciate situations may change, and try to maintain flexibility in repayment terms where reasonable. Failure to repay or renegotiate terms will result in debt collection and court proceedings.

You will be notified by letter should your repayments fall behind.

 Can I get a loan if I am not an LCCU member?

 Only members can take out LCCU loans, but membership is easy and straight forward, and loan agreements can be signed as soon as the first electronic payment enters the account.

Are LCCU loans Sharia compliant?

 Unfortunately, our loan products are currently not Sharia compliant. Please see more about our Sharia compliance here.

Can I use my savings if I have a loan?

Your savings are held (secured) as a guarantee against your loan. This means that you will not be able to withdraw from your savings account until your loan is completely clear, or less than the amount you hold in savings.

Terms and conditions apply.

Once the loan has been granted you will have a seven day ‘Cooling Off’ period in which you may cancel the loan without legal consequences.

On acceptance of the loan you will enter into the legally binding Terms and Conditions as laid out in your Loan Agreement.