London Mutual Achieves Armed Forces Covenant Silver Award

Tuesday 23 January 2024

London Mutual Credit Union has been awarded Silver in the Armed Forces Covenant Employer Recognition Scheme, reflecting its work with the armed forces over the past few years.

“We are delighted to announce today that London Mutual Credit Union has achieved the Silver Award in the Armed Forces Covenant Employer Recognition Scheme,” says Head of Business Development at LMCU, Ben West. “This award recognises our commitment to supporting the armed forces, including Active Personnel, Reservists and the wider forces family.”

London Mutual has worked with the Ministry of Defence since 2015 as part of its ‘Joining Forces’ initiative. In the years since LMCU’s armed forces membership has grown substantially. It is now an important part of membership which also includes those working in health, education and the wider community.

Over the years, armed forces members have accumulated hundreds of thousands of pounds in salary-deducted savings, as well as saving significant sums on affordable loans. In 2020 alone LMCU lent £4.45m to serving armed forces personnel and veterans. On average, this saved members an average of £493 in interest compared to borrowing an equivalent amount on credit cards.

Ben added: “As an employer, we seek to encourage veterans and service leavers to join our growing staff team. Over the past two years, this has included reservists and a spouse of a serving member. We have also been delighted to welcome Michael Cook, a former member of the RAF Regiment and veteran of the Falklands War, onto our Board.”

Announcing the awards, Minister of Defence People and Veterans, Leo Docherty MP, said: “I would like to thank all the organisations who have proven their support for the Defence community through such unprecedented and challenging times.

“The vast range of those recognised this year demonstrates how employing the Armed Forces community makes a truly positive and beneficial impact for all employers, regardless of size, sector or location.”