Our Savings

Secure Ethical Savings

Putting money away regularly, even a small amount, is the best way of being able to cover future expenses or unforeseen emergencies. It not only gives you peace of mind, but can also help avoid the need to borrow.

Saving money with us could not be simpler. You can make a lump sum deposit or start a regular savings plan from as little as £2.50 per week or £10 per month. The maximum deposit balance that can be held is £80,000. A minimum of £1 must be kept in your account at all times to retain credit union membership.

If you're fortunate enough to have savings already why not place some of it with London Community Bank? Your money will be accessible, 100% safe and earn a competitive dividend.  Plus your savings will be put to good use in the local community by being loaned to fellow members.

Members can save by standing order directly from their bank or Engage Card. Also, employees of organisations that participate in our payroll deduction scheme can have savings or loan payments deducted directly from their salary. 

The overall pool of savings with the credit union is used to provide loans to our members. The interest from loans is used to pay expenses; to build up reserves and the remainder may be returned to the members by way of dividend. See recent Dividend rates paid. Members’ savings are protected by the Financial Services Compensation Scheme, currently up to a total of £85,000 per member. See Is Your Money Safe for more details about the FSCS.

We offer the following additional savings accounts:

• Junior Savers Account
• Accounts for Clubs, Charities and Societies
• Standing Order Mandate for Saving