Options for repaying or settling your loan

As a valued member of London Mutual Credit Union, you have several options for repaying or settling your loan. Whether you’re looking to pay off your loan early, make additional payments, or use funds from your savings, our support team is committed to helping you find the best solution. This guide explains your repayment options and how to proceed.

Checking your loan balance and settlement amount

Before making a payment or settling your loan, it’s important to know the current balance and settlement amount. You can access this information through multiple channels:

• Log in to online banking or the mobile app for up-to-date loan and account information. Click on NIL balance to see how much you have.
• Contact our support team to request a loan settlement figure, including any interest or early repayment information.

Methods for repaying or settling your loan

London Mutual Credit Union members can select from several convenient options to repay or clear their outstanding loan:

• Use your savings account to partially or fully settle your loan balance.
• Make a one-off payment online from your external bank account using the details provided by our team: Pay Into My Credit Union Account - London Mutual Credit Union
• Adjust your regular repayment standing order to increase or decrease payments.

Confirming your repayment

Once your repayment or settlement has been made, please contact our support team. This allows us to:

• Confirm that your payment has been received and applied correctly.
• Adjust your loan record and update your repayment schedule as needed.

Conclusion

Managing your London Mutual Credit Union loan is straightforward, with multiple repayment routes and friendly support available every step of the way. For questions or assistance regarding your settlement or repayment options, please contact our support team, who are always ready to help you achieve your financial goals.