London Assembly Calls for Stronger Support to Expand Credit Unions Across the Capital

Friday 6 March 2026

The Chair of the London Assembly’s Economy, Culture and Skills Committee has written to the Mayor of London urging further action to expand access to credit unions across the capital, following a recent committee session examining its role in supporting financially vulnerable Londoners.

The letter from Hina Bokhari OBE AM, sent to the Mayor on Thursday 05 March, follows evidence heard by the Committee during its recent investigation into credit unions. Joining ABCUL Chief Executive, Matt Bland on a panel were Ben West from London Mutual Credit Union, Ravi Ravindran from Lewisham Plus Credit Union, and Dr Paul Jones from the Swoboda Research Centre.

The Committee heard that credit unions are providing vital support to people across London who struggle to access mainstream banking services. Evidence highlighted the scale of financial vulnerability in the capital and the increasing demand for ethical, community-based financial services.

In her letter, the Committee Chair urged the Mayor to support greater engagement between the Greater London Authority (GLA) family of organisations and credit unions, including expanding employee partnerships so more public sector workers can access credit union services.

The Committee also recommended that the Mayor use his convening power to bring London’s credit unions together more regularly to explore collaboration on marketing, product development and shared services.

Commenting on the letter submitted, by the London Assembly, ABCUL Chief Executive, Matt Bland said: “Credit unions are doing vital work supporting people across London to access fair and affordable financial services, especially as many find it harder to speak to someone through mainstream banks. We welcome the London Assembly highlighting the role credit unions play and the opportunity to help more Londoners benefit from what they offer.

“This kind of support at a city level will be important as the sector works to grow. Through the sector’s Credit Union Growth Plan and the Government’s Financial Inclusion Strategy, there is a real opportunity to expand awareness, strengthen collaboration and help credit unions reach more people. With the right partnerships in place, credit unions can play an even bigger role in supporting Londoners and building stronger, more financially resilient communities.”

The Committee has asked the Mayor to respond to the recommendations by 17 April 2026.

A copy of the letter can be downloaded here.