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New London Mutual branch opens

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07 Mar 16

London Mutual’s new state-of-the-art Southwark branch has been opened by Labour’s Deputy Leader, Tom Watson MP.

The senior politician was the guest of honour at the opening of the new branch in Walworth Road, Southwark.

The new London Mutual Credit Union branch is equipped with its own ATM service, five spacious counters and an iPad stand where members can join the credit union, apply for low cost loans and carry out other online transactions.

Located in a busy high street close to public transport links, the new credit union branch offers local people easy access to fair and affordable financial services.

Tom Watson MP said: “I am delighted to attend the opening of this impressive new London Mutual Credit Union branch in Southwark. Credit unions have a vital role to play in providing great value loans and savings to those who may otherwise be excluded from mainstream financial services.

“Located in the heart of the communities they serve, credit unions are ideally placed not only to provide access to ethical finance, but also to help people manage their money better, keeping them out of the clutches of loan sharks and high interest payday lenders.”

Cllr Stephanie Cryan, Cabinet Member for Adult Care and Financial Inclusion at Southwark Council, said: “This new service will be a brilliant alternative to payday lenders for local people, and is a great example of the community, the council and the credit union working together to bring about important local support that people want and need.”

London Mutual Credit Union Chief Executive Lucky Chandrasekera added: “We are very happy to open this modern and spacious credit union branch for our members. The new premises provide London Mutual Credit Union with the additional facilities we need to handle the requirements of our ever growing membership and we look forward to welcoming existing and new members.”

London Mutual Credit Union serves anyone who lives or works in the London boroughs of Southwark, Lambeth, Westminster or Camden, or staff of over 25 employers including the British Armed Forces. Established in 1982, London Mutual has grown into one of Britain’s largest credit unions, with 25,000 members.

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