London Capital Credit Union Reviews

I have been with credit union for the past 3 yrs now and they have helped me to save and gain more financial independence

The Credit Union was very helpful in providing me with the loan I needed to get all my finances in order. The process was smooth and the staff were supportive every step of the way. Highly recommend!

I applied for a loan from London Capital Credit Union in good faith. I submitted all required documents – including my passport, BRP, payslips, and proof of address. After waiting patiently for over two weeks, I received a phone call confirming that my loan had been approved and I would receive the funds the next day. Based on that confirmation, I paid the deposit, signed the loan agreement, submitted my bank details, and prepared for the Direct Debit to start. I had become a member specifically because I was looking for financial help with some debt and a loan to cover my accommodation deposit. However, just hours before the funds were expected, I received a text message saying the loan had been declined — without proper explanation or accountability. No one informed me in advance. I was left in shock, with no funds, a missed Direct Debit, and serious damage to my credit. I filed a formal complaint, and as of now I’m still waiting for a meaningful response. The emotional distress, financial impact, and total lack of care shown have been appalling. Would not recommend based on my experience — especially to anyone hoping for a thoughtful or responsive service. This is not a place for people in genuine need. I plan to escalate this complaint to the Financial Ombudsman, and I am now considering further action, including legal steps through the High Court if necessary. This organisation has proven to be absolutely incompetent and a complete waste of time. UPDATE: In response to the company’s comment: I raised the formal complaint only after two full weeks of cooperation and submission of all required steps, including identity verification, signed agreement, and Direct Debit setup. The so-called “identity issue” was never communicated until the sudden rejection. Why was I allowed to proceed so far if my ID was in question? I now face a missed Direct Debit, credit damage, and severe financial stress — caused directly by this organisation’s process and miscommunication. This is not just about waiting — it’s about accountability. UPDATE : In response to the company’s comment again: “Your response is incredibly disappointing — not only because it lacks accountability, but because it shifts blame onto me, a member who followed every instruction in good faith. I only submitted a formal complaint after weeks of full cooperation: providing all ID, payslips, signing the loan agreement, paying the deposit, and being told my loan was approved. To then say “if your Direct Debit failed, you cannot afford to repay a loan” is deeply offensive. It was your organisation’s decision to initiate the Direct Debit after telling me the loan was approved. The DD failed because your process collapsed without notice, not because I was incapable. The issue was never my affordability — it was the confusion and inconsistency within your own team. I will be taking this matter to the Financial Ombudsman, and I hope other customers read this and think twice before placing trust in this system. This is not how any member should be treated especially not one in genuine need.

Extremely Disappointing Experience - Felt Ignored and Dismissed I’m genuinely shocked and disappointed by my experience with London Capital Credit Union. I submitted a thorough loan application, including full documentation proving my affordability - permanent full-time employment at £45k per year, regular savings, and a profitable business. Despite this, I was declined without any clear explanation or meaningful engagement with the documents I provided. Every follow-up was met with vague, copy-pasted responses that showed little care or attention to my actual situation. Even after escalating, I was told my application didn’t evidence affordability - despite showing I could comfortably meet repayments within my salary alone. This process has been confusing, frustrating, and frankly quite distressing. As a member who has been saving with them, I expected a supportive and human approach - not cold bureaucracy. I no longer feel that this credit union operates in the spirit of supporting its members or providing fair access to financial products. Would not recommend based on my experience - especially to anyone hoping for a thoughtful or responsive service.

I came across this company a few months ago and initially applied for a loan, which was immediately rejected. Later, after reading more on their website, I decided to open a savings account. Not long after, I received an invitation to apply for a loan again. I went through the process, only to be instantly rejected once more. It feels like going around in circles with these kinds of companies, which is why I’ve left a one-star review. Yes understand that you work on trust I have a savings account so with you so that should go some way but sadly you've declined Because you offer a community interest rate it's much better than these credit cards hints why I'm applying You don't even try and offer someone just a small amount to start off withive had community loans before from other companies like yourself

Gave me a loan when needed the most and had no hope of getting one else where because of my poor credit score, very grateful and happy to get into good habit of building savings, thank you for your support.

Credit union helped me to save up got a loan and now I've paid it all back and still save with them. It's a great way to get your finances on track and it'd much much cheaper than my normal bank ( interest paid back for loan) definitely recommend the credit union 👌

Ruined my credit file! Been a member for over 2 years and never gave me a loan, each time ruining my credit file, because of their hard credit checks. Claims one needs to save with them before can get loan, but nowhere in your terms does it say one has to pay anything before they can get a loan. Also makes ridiculous excuses not to provide a loan! I will be cancelling my membership. Disgraceful!

Bullies Discrimination Liars Condescending

After extensive research across the UK and Europe I can confidently say that the best savings account I have found is with credit union. I currently have £30000 invested with plans to increase this amount in the future and to use their loan services. Despite being a highly sceptical individual London Credit Union has exceeded my expectations and I am genuinely pleased with their services I will be recommending them to everyone!

Most reliable loan service providers, thank you for supporting the community and family members in need! They helped me a low interest rate loan and a great way to save in the long run. I am very grateful and appreciate this emergency loan help , which I will benefit in the loan run. Thank you.

Have been a customer for years and would until recently have awarded 5 stars, now wondering if 2 is one too many. With no contact by message or email in advance, the local branch shut a fortnight ago. I say "local", it was the last branch in the borough, and this credit union started here, not in Hackney nor Stratford. More personally, in January I took out a loan. Have had previous loans, no problems, but this time... hopeless. Checked first payment had been taken, was assured it had, received message it had not, responded and set up payment (again), so next month asked, was told it would come out 'tomorrow', received message it had not... Had to go to Stratford today and set up (another) direct debit, but I'm starting to think it may be a waste of time; NO bank or credit union should need "Third Time Lucky" as a slogan. And finally, given my experiences in branch, I'd prefer an honest response to what turned out - twice! - to be a lie, when asked if a payment had been taken from my account.

Great service so easy to use ! Great for savings and quick loans when needed.. highly recommend!

Very kind and helpful

Very professional and efficient great way to save never been able before until Credit Union even the employees a true credit to the union. Happy New Year 2024 here’s to more saving!

I have been with London Capital Credit Union for about 11 years and am really happy with their service. They've always encouraged members to save. I've recently had to borrow to pat off some debt and the process was very easy but the best part is that a portion of my repayment will go towards increasing my savings - brilliant!

I am very happy with the service I received from the credit union. I took a loan based on advice received and this enabled me to clear some of my pressing debts with a peace of mind. To date I have cleared the loan and at the same time have money available in my savings account.

My experience with the credit union was pleasant. I borrowed with confidence, the process was well explained. Paying back was also stress free. I was also saving whilst paying back. I highly recommend them for short term loans.

Great and reliable services and the opportunity to save up.

I was a member, borrower and then director of another credit union which was not large enough to have a big impact on the vast number of people just managing who borrow from Credit Unions often when banks are unwilling to lend. This merged with LCCU which has many more members and has a significant impact on North London's less wealthy investors and borrowers. I was elected a director at LCCU's recent AGM and have met staff members and other directors all of whom are enthuiastic about the work a Co-operative Credit Union does and the number of people we help.