If you don't work for one of our employer partners but would still like to save regularly with us, a direct debit could be a good option.
A direct debit enables you to pay money into your Credit Union savings account from a bank or building society account you hold elsewhere. Once it is set up, the payment happens automatically, on a date and with an amount you choose. You can change or cancel this arrangement at any time.
How to set up a direct debit
We're in the process of developing an online service for this, but in the meantime, you'll need to complete a paper form to do this. The form can be returned by post or email.
- Download and complete the direct debit form here
- Decide how much you'd like to pay in each month, and on which date.
- You can choose from 1st, 15th, 20th and 25th of the month.
- Many people make this the date they receive their salary/wages.
- Provide the account details of the bank or building society account the money will come from.
- Under 'reference', write in your credit union membership number. To receive a reminder of your membership number, text memnumber to 60060, and you'll receive an instant response.
- Return the form to firstname.lastname@example.org or by post to
FAO Accounts Department
London Mutual Credit Union
4 Heaton Rd
London SE15 3TH