Cards, reinvented.

We asked our 2,500 members across the armed forces what they wanted from a payment card. The result? Forces Finance Card. A flexible line of credit, linked to a convenient debit card. 

19.6% APR, £2000 limit
Representative example


Repay directly from your salary


Safety features to keep you out of debt


From a not-for-profit credit union


Apply without affecting your credit score

How it works

With a single predictable monthly repayment and repayments straight from your salary, using the card is hassle-free.

1. Easily apply online

Whether you’re a new or existing member, it’s easy to apply online via our secure form. The process should take 15 minutes or less. 

Applying is risk-free, and won’t impact on your credit file, even if you aren’t improved. 


2. Get approved

We’ll use your application to determine whether we can issue a card, and to set a credit limit that is affordable for you.

At this stage we’ll also pass your details to the MOD to set up repayments from your salary.

3. Spend using your card

Use your card anywhere a MasterCard debit card is accepted.

Debit card transactions are included, with a small fee for cash withdrawals.

4. Predictable payments

The same amount comes out of your pay each month, whether or not you use the card.

If you pay in more than you’ve spent, the money is yours to spend, or you can transfer it into your savings. We won’t charge interest.

5. Take a holiday

For up to 30 days per year, overseas payments and cash withdrawals are on us.

Once a year, you can also arrange a one-month holiday where your payment will be paused.

6. Auto-land at any time

If you’re deployed or your plans change, you can convert your card to a regular loan.

Repayments will continue, with the balance paying itself off in 18 months or less.

Safety first

Get a bank your can trust. We’re not-for-profit, and include tools that make it easier to keep up with payments, and are designed to keep you out of problems with debt.


Payments out of your salary

No messing around with direct debits, standing orders or remembering to pay on time.


Balance by text

Get your balance at any time with a simple SMS.


Save as you go

The option to pay in more than you borrow, making it easy to build savings.


Gambling block

Betting and online gaming sites blocked by default.

Salary deducted repayments

Forces Finance Card is available exclusively to serving members of the UK armed forces, with repayments made directly via your JPA-administered salary.

Answers to Your Questions

Who is eligible to apply?

Currently, this product is only open to existing members who are registered for payroll deduction (with savings or loan repayments taken from an MOD/JPA salary). Eventually, any serving member of the UK armed forces will be able to apply.

As with any type of loan or credit, availability will also depend on your individual circumstances, including your other financial commitments and your ability to repay.

What does it cost?

Your single monthly payment is the same each month, regardless of how you use the card. It includes your loan repayment, interest and all fees.

Your monthly payment is calculated as a percentage of your overall card limit plus interest. As an example, with a card limit of £2000 and a repayment period of 18 months, your monthly payment would be approx £130. 

Why pay the same every month?

Paying the same amount each month makes it easy to budget and plan your finances. It also means you’re never more than a fixed number of months away from paying off the card in full. 

If your monthly payment covers more than what you owe on the card, the money you’ve paid in is still yours to spend later, or, if you prefer, we can transfer it into your savings.

Is this a credit card?

No. Forces Finance Card is a debit card associated with a revolving loan facility, and is not a credit card.

One way to think of it is as both a loan and a current account. The loan is prearranged, and available to you whenever you need it, up to an agreed limit. When you apply for the loan, we will also set you up with a credit union current account specifically for this purpose, through which you can access the borrowed funds. You can then access it whenever you need, using the debit card provided.

Is my application likely to be approved?

All applications will be considered by an expert member of our loans team, rather than by a computer or automated process. We think that’s fairer, because everyone is different and it allows us to take your full circumstances into account.

When considering your application, we’ll look at your previous credit history as well as your income and other financial commitments, to ensure the card is the right fit.

Taking repayments directly from your salary means more security for us. This in turn usually allows us to offer greater flexibility and better rates than other providers. 

How does payroll deduction work?

When you apply for the card, we’ll ask for details including your National Insurance and service number. As an approved partner of the UK armed forces, we will then provide these details to MOD payroll, who will arrange the deduction on your behalf.

Will my credit be affected?

When you apply, we’ll use a credit agency to check your credit status. We’ll conduct this as a ‘soft’ search, which means that there will be no record on your credit file if your application is not approved.

If you are approved for a card, we will regularly update credit reference agencies with information about your outstanding balance and repayments. Staying up to date with repayments is likely to have a positive impact on your credit file.

Because we make it easy to repay, this card may be a good way to build your credit score. On the other hand, missing or falling behind with payments will hurt your score, and may make it harder to get credit from us or other providers in future.

What happens if I leave the Forces?

Leaving the Forces may mean we can no longer take your payment directly from your salary (unless your new employer also offers salary deduction with us).

You will remain a member of the credit union, but will no longer be eligible for a Forces Finance card. After your leaving date, you will no longer be able to use your card. Any balance left on the account will be converted into a loan with us (at the same rate of APR) and repayments will continue via direct debit. To make sure this all happens smoothly, please let us know if you are changing employer as soon as possible.

Building a better bank

Forces Finance is provided by London Mutual Credit Union, a not-for-profit community bank which is owned by our customers.

Since 1982, we’ve provided easy ways to save and affordable loans to thousands of council staff and NHS employees across the London Boroughs of Lambeth, Southwark, Westminster and Camden, and since 2015, membership has been open to members of the UK armed forces as well. 

In 2015, London Mutual was honored to welcome Victoria Cross recipient Lance Sergeant Johnson Beharry as our first armed forces member.

London Mutual Credit Union

4 Heaton Road,
London SE15 3TH

0330 1220021