Borrow from £1,000 to £25,000 and repay from your salary at rates from as low as 4.5% APR.


Get into the savings habit with regular savings deducted directly from your armed forces salary.

About us

Forces Finance is delivered in partnership between London Mutual Credit Union and the MOD.

How it Works

Decide how much you’d like to save each month or borrow, and we’ll arrange the with your employer.

Join Forces Finance

The Right Financial Fit for Military Families

As a military spouse and member of the credit union's staff team, I know first-hand the benefits of membership for armed forces families.

Armed Forces families encounter unique sets of challenges. Over the past five years, London Mutual Credit Union has built an understanding and expertise that has enabled them to provide financial products which are tailored for the service family.

As the spouse of a former Royal Marine and a member of staff at London Mutual Credit Union (which provides Forces Finance) I have had the privilege of both providing and using the financial services offered by Forces Finance.

My family’s experience

The credit union has assisted service and veteran families like mine, and I am proud of the work that we do at the credit union to ensure that families like ours have access to equitable finance. London Mutual’s years of catering for the financial needs of our military families has put them in a good position to be the first choice of provider when it comes to credit.

Members of the Armed Forces and their spouses are able to open current and savings account which are accessible through online banking. The credit union has endeavoured to make opening accounts easy and simple by simplifying the online app which can be accessed from anywhere your armed forces career might take you.

How the credit union can help

Serving members can also access the Forces Finance card, with a credit limit up to £2,000. Applying for a loan is simple. London Mutual encourages members to save as they repay, by saving a minimum of £20 on top of the loan repayments.

For my family, taking out a loan with the credit union meant paying off a loan with a lower interest compared to payday loans. These altneratives would have tied us down with high repayments due to the higher interest rate. The fact that we also got to save while doing so encouraged us to develop this habit. This has come in especially useful now that our family has left the service.

LMCU also provides consolidation loans where you can consolidate your debts into one repayment which is more manageable. Military families in the UK on average move every two years. which places an added financial burden on families. Because of this, our loan application process takes into account more complex address histories to ensure you are not penalised. The credit union also makes it simple to re-apply if you need to after your first loan is repaid.

A community-centred approach

Perhaps one of the most important aspects of the credit union is their community-centred approach to banking. As an employee of the credit union, I am proud of the work that we do for the community. This includes, for instance, helping ethnic minority families like ours meet the costs of applying for visas. The cost of application fees can often be financially debilitating, particularly for a whole family.

For my fellow armed service families, I highly recommend becoming a member of Forces Finance. This allows you to take advantage of the financial services that they offer. Though London Mutual Credit Union is based in London, they cater for service members throughout the UK. This means that they bring a community feel to banking, whichever base you are at. Become a member now and get a step closer towards achieving greater financial freedom.

Get started with Forces Finance

Become a member of London Mutual Credit Union, and begin building savings or borrowing affordably directly from your Ministry of Defence salary.

Get Started

Good to Know

The contents of this article are intended for informational purposes only, and do not constitute financial advice. Always consult a qualified professional for independent advice if you are unsure about whether a financial product or strategy is suitable for you.

All loans are subject to our loans policy and availability. The amount and rate that we may offer you may differ based on our assessment of your personal circumstances. Applying for a loan may affect your future ability to take out credit.

Miriama Suraki

Miriama was employed as a Loans Officer at London Mutual Credit Union from 2019-2021. Her husband is a veteran of the Royal Marines.

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