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

 Credit Union Loans

Fair Loans that put you in the driving seat

Make it happen with a lender you can trust. Borrow up to £25,000 with no hidden fees or early repayment charges. Rates from just 4.5% APR, and repayments directly from your armed forces salary.

Low rates with repayments from your armed forces pay

When done responsibly, borrowing can be a great way to spread costs or to make your plans happen a little bit sooner.

Up to £25,000 at rates from 4.5% APR

No impact on your credit file if you aren't approved

Decisions made by a real person

No early repayment fees or hidden charges

Repayment from your MOD salary

Build savings as you repay

Ways to Borrow

Our range of salary-deducted loans are designed to make it affordable to borrow, and simple to repay.

Personal Loans

Borrow from £100 to £15,000 for any purpose with fixed repayments and a clear end date. Rates from 7.4% -19.5%, based on amount.

Forces Finance Card

Get a credit limit of up to £2,000 (19.6% APR), linked to a convenient MasterCard debit card.

Consolidation Loan

Pay off credit cards or overdrafts sooner and save money on interest with a consolidation loan. Borrow up to £15,000 at 16.5% APR.

Home Owner Loan

Borrow up to £25,000 towards home improvements. Loans of up to £25,000 at 7.0% APR, repay up to 60 months.

Calculate My Loan

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Monthly repayment:
  • Borrowing:
  • Over:  Months
  • Representative:  APR
  • Total cost of this loan:
  • Total repayable:
Apply for this loan

All loans are subject to affordability checks and our Terms & Conditions. Loans are offered subject to status to members aged 18 or over. The rates displayed on this page are for illustrative purposes only, and the actual amount and interest payable will be indicated in the Loan Agreement provided when we offer you a loan.

Application Process

Unlike many lenders, all loan applications are considered by a real person. The outcome of your application will be based on careful consideration of all the relevant facts, not just an automated score.

Apply Online

Loan Decision

Offer & Agreement



Apply for a loan Online

The online application will take roughly 15 minutes. As part of the process, we will ask for some information about your address history, your career, and your current household income & expenditure.

We’ll also ask you for copies of your recent bank statements and confirmation of the date you are due to leave the armed forces. It will speed things up if you have these ready, but if not, don’t worry—we will email you with a link to upload them later.

When you submit, we’ll carry out a ‘soft’ credit search to check your identity. This means there will be no negative impact on your credit file if, for some reason, we are unable to offer you a loan.


Loan Decision

After we receive your application, our team will look through all the information you have provided to decide if we can offer you a loan.

As part of this, we will check your bank statements to make sure that the repayments are affordable—this is to protect us both, by making sure we only lend you what you can comfortably afford to repay.

This process should take 7-10 days, and we’ll send you daily text updates so you know what’s going on, and in case we have any questions.


Offer & Agreement

Once our Loan Team have made a decision, we’ll let you know by email, letting you know how much we can offer you, the interest rate, and the amount you’ll repay each month.

Often, we’ll be able to offer you the full amount you applied for, but sometimes, it may be less. If you are happy to accept our offer, we’ll email you with a digital copy of your Loan Agreement, for you to read and sign.


Loan Payment

The best part! Once you return the Loan Agreement, the loaned funds will arrive into your account in 36 hours.

We will take care of the rest, and arrange with the Ministry of Defence for your agreed repayments to be deducted from your pay each month. You will see this listed on your payslip, alongside tax, student loan, and any other deductions you may have.

What Can I Get a Loan For?

The reasons our members borrow are as individual as they are. But whatever your reason for applying for a loan, our Loans Team will carefully consider your application and look at the full picture.

Buying a Car

Consolidating debts

Home Improvements

Visa to Remain

Building Credit

Getting Married