London Capital Credit Union
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| Founded | 1997 (Hornsey Co-operative 1964) |
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| Type | Industrial and Provident Society |
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Key people
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Helen Baron, President Martin Groombridge, Chief Executive |
| Website | credit-union.coop |
London Capital Credit Union Limited is a not-for-profit member-owned financial co-operative, based in Archway and operating in the City of London and north London boroughs of Barnet, Camden, Hackney, Haringey and Islington.
Founded in 1997, by 2014, the credit union had over 11,000 members and assets in excess of £7m. A small permanent staff are supported by a team of volunteer Member Services Assistants.
Islington Council Employees Credit Union was originally established in 1997, to provide secure savings and low cost flexible loans for employees of Islington Council. It became Islington and City Credit Union in 2007, briefly Haringey, Islington and City Credit Union (with the support of Haringey Council) in 2011 and finally adopted the current name, broadening its catchment to include Barnet, Camden and Hackney, in 2012.
Hornsey Co-operative Credit Union, one of Britain's first registered credit unions, and North West London Credit Union transferred engagements to London Capital in 2013, followed by the smaller Radio Taxicabs Credit Union in 2014.
David Lammy, Labour member of Parliament for Tottenham, was signed into membership in 2014, followed by Dave Prentis, General Secretary of the public service trade union, UNISON (the President of Unity Trust Bank and a non-executive director of the Bank of England). UNISON's registered charity, There for You, has been working in partnership with the credit union since 2013.
In 2015, a merger with the small Rainbow Credit Union for Co-operative members and employees in London and the South East proved impractical; it was placed into administration and ceased trading on 14 September.
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