Thumbs up for London Capital Credit Union, says members

Friday 12 January 2024

During 2019, London Capital Credit Union undertook its annual member satisfaction survey and asked its members how they rated the credit union’s customer service.

The credit union were pleased to announce this week, the overall level of satisfaction with the services it provides had improved, with an average score of 8.6 out of a possible 10.

Over 24% of the members contacted responded to the questionnaire, and of particular note was that 52% of those responding said that they had no savings at all before they joined the London Capital Credit Union.

Martin Groombridge, Chief Executive of the Credit Union, said: “We’re pleased to see that the latest survey shows a high level of satisfaction with the services we provide, with an average score of 8.6 out of 10, up from 8.5 in the previous year. We believe that this is a significant achievement given our tighter lending policies that led to more people having loan applications declined.”

During the year the Credit Union upgraded its app for mobile devices and made a number of improvements to the members’ secure area of the website.

Martin added: “The member survey showed that more still needs to be done to communicate our services, with nearly 32% of members not knowing about our mobile app, and over 46% not having heard of our budgeting accounts or money advice services.

“High member satisfaction has helped to drive the growth of our Credit Union over many years and we will continue to focus on the best possible levels of customer service.

This year, London Capital also were represented at the 10th anniversary of the FairBanking Foundation hosted at the Palace of Westminster. The charity first awarded London Capital Credit Union its five-star Fairbanking Mark for its ‘Saver Loan’ and ‘Instant Saver Loan’ products in 2015.

The credit union said: “We are proud that the fairness of our products and services continue to be recognised in this way and that others are following our example of best lending practice in the interest of customers and wider society. It fits well with the co-operative values of openness, honesty and putting the customer first.”