London Community Bank

What London Community Bank does

London Community Bank operates as a community-focused credit union, legally constituted as Hillingdon Credit Union Ltd, providing savings accounts and loans to residents and workers across multiple London boroughs. Founded in 1991 and headquartered in Uxbridge, the institution serves anyone living or working in the London Boroughs of Hillingdon, Harrow, Ealing, Brent, Hounslow, Hammersmith & Fulham, Richmond upon Thames, Kingston upon Thames, Wandsworth, and Merton, plus Slough and South Bucks. It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority (FCA reference 213406), with member deposits protected by the Financial Services Compensation Scheme up to £85,000.

The product set spans tiered loan products — Child Benefit loans at 42.6% APR (£200-£500, up to 12 months), Standard loans at 12.7-26.8% APR (£200-£7,500, 1 month to 5 years), Home Owner loans at 5.9-10.9% APR (£7,500-£15,000), and Secured loans at 5% APR (£2,000-£25,000) — alongside savings accounts paying competitive dividends (1.25% for 2022). The technology stack comprises a mobile application on Apple App Store and Google Play, an online member portal at hillingdon.cuaccount.com, and the Smartcash Junior Debit Card, an Engage-accredited prepaid account for 8-16 year olds with parental controls and contactless Visa functionality. Distribution combines a Uxbridge main office, a Brent Mutual branch in Kilburn operated by Advice4Renters, employer payroll deduction schemes with four London boroughs and Brunel University, and school savings clubs at nine primary schools.

The revenue model is conventional credit union economics: net interest income from lending offset by dividends paid to savers, with all loans carrying fixed rates and no lending, processing, or early repayment fees. Free life cover up to £10,000 is included for borrowers aged 69 and below. The credit union operates with 1-10 employees, holds over 3,500 members (including 400 junior savers), and caps member savings balances at £80,000. Recent strategic actions include the October 2020 merger with Credit Union for Brent and Ealing (CUBE), the July 2022 rebrand from Hillingdon Credit Union to London Community Bank, and the addition of the Smartcash Junior Debit Card to the youth product line.

Name

London Community Bank

Legal name

Hillingdon Credit Union Ltd

Website

https://londoncb.co.uk

Company type

Private

Founded year

1991

Operating status

Operating

Headcount range

1–10 employees

Short description

London Community Bank is a London-based credit union (legally Hillingdon Credit Union Ltd) offering savings accounts, tiered loan products, and a junior prepaid card to 3,500+ members across multiple London boroughs, distributing via employer payroll schemes, school savings clubs, and two physical branches.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Credit Unions (52213), Credit Unions (522130), Depository Credit Intermediation (5221)

SIC

Personal Credit Institutions (6141), Savings Institutions, Not Federally Chartered (6036)

akta.pro primary industry

Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)

akta.pro secondary industries

Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL), Cooperative Banks (Member-Owned Commercial/Retail) (FSABAEAF)

Keywords

• Credit union services
• Community savings accounts
• Personal loans
• Member banking
• Ethical lending

Headquarters

HQ city

Uxbridge

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Loan Interest Income: The primary revenue stream comes from interest charged on loans. Interest rates vary by product: Child benefit loans at 3% per month (42.6% APR), Standard loans from 1-2% per month (12.7-26.8% APR), Home owner loans from 6.9-10.9% APR, and Secured loans at 5% APR. All interest rates are fixed.
2. Savings Deposits and Dividend Distribution: Members deposit savings which are used to fund loans to other members. The credit union pays dividends to savers from the interest income generated on loans, after covering expenses and building reserves. Dividend rates are declared at the annual AGM and have historically been competitive versus high street banks (1.25% for year ending 30/09/2022).
3. Smartcash Junior Card Fees: The Smartcash Junior Debit Card generates a one-time card fee of £10 per card. ATM cash withdrawals may incur small fees. This is a minor revenue stream associated with the junior savings product.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels6 records

Core offering

London Community Bank (legally Hillingdon Credit Union Ltd) is a not-for-profit financial cooperative offering savings accounts and personal loans to members who live or work within a defined common bond area across multiple London boroughs. Its offerings include regular and Christmas savings, junior accounts, corporate accounts for clubs and charities, child benefit loans, standard loans, home owner loans, secured loans, the Smartcash junior debit card, and the Brent Residents Support Fund providing interest-free loans in partnership with Brent Council.

Differentiator

Problem solved

Functional benefit

Products and services

• Savings Accounts

Quantifiable outcome

• Loans over £1.3m provided to members in a 12-month period
• +2 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• Brent CouncilcoreStrategic or Co-development Partner · 1 October 2020London Community Bank partners with Brent Council to provide interest-free loans to Brent residents who require financial assistance. Brent Council refers residents to the credit union, and successful applicants receive loans that are fully repayable. The credit union shares member information with Brent Council including borrowing amounts and repayment status. This is a key social impact partnership addressing financial hardship in the borough.
• Genesis Housing AssociationminorChannel Partner/ Reseller/ DistributorEmployees and tenants of Genesis Housing Association are eligible to join London Community Bank as part of the common bond. This partnership expands the potential membership base to housing association staff and residents.
• YMCA West LondonminorChannel Partner/ Reseller/ DistributorEmployees of YMCA West London can join London Community Bank as part of the common bond, providing access to ethical savings and competitive loans for YMCA staff.
• Catalyst Housing GroupminorChannel Partner/ Reseller/ DistributorEmployees and tenants connected to Catalyst Housing Group are eligible for membership in London Community Bank, expanding access to financial services for housing association communities.
• London Borough of HillingdoncoreChannel Partner/ Reseller/ DistributorLondon Borough of Hillingdon (including pensioners) offers payroll deduction services to staff through London Community Bank. This is a key employer partnership enabling convenient savings and loan repayment through salary deductions.
• London Borough of HarrowcoreChannel Partner/ Reseller/ DistributorLondon Borough of Harrow offers payroll deduction services to staff through London Community Bank, enabling members to save and repay loans directly from their wages.
• London Borough of EalingcoreChannel Partner/ Reseller/ DistributorLondon Borough of Ealing provides payroll deduction services to staff through London Community Bank, allowing convenient savings and loan repayment through salary deductions.
• London Borough of BrentcoreChannel Partner/ Reseller/ DistributorLondon Borough of Brent offers payroll deduction services to staff through London Community Bank for savings and loan purposes.
• Brunel UniversityminorChannel Partner/ Reseller/ DistributorBrunel University staff can access payroll deduction services through London Community Bank, providing university employees with access to ethical savings and competitive loans.
• Hillingdon Schools (via Data Plan, Strictly Education, Capita)minorChannel Partner/ Reseller/ DistributorAll schools in Hillingdon using Data Plan, Strictly Education, or Capita payroll systems can offer staff access to London Community Bank payroll deduction services.
• Advice4RenterscoreChannel Partner/ Reseller/ DistributorAdvice4Renters operates the Brent Mutual branch on behalf of London Community Bank, providing services to people who live or work in Brent. They also offer money management services on weekends.
• Credit Union for Brent and Ealing (CUBE)coreStrategic or Co-development PartnerIn preparation for the merger of Credit Union for Brent and Ealing Ltd (CUBE), London Community Bank (Hillingdon Credit Union) transferred all CUBE members' details and balances to the new website on October 3, 2020. This expanded the credit union's membership and common bond area.

Scale indicators3 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Castle & Crystal Credit Union: UK community credit union formed from a 2017 merger of two smaller unions, offering savings and loans across a multi-borough common bond. Directly comparable to London Community Bank's CUBE merger integration and post-merger operating model.
• Manchester Credit Union: Community credit union serving the Manchester area with a similar product set (personal loans, savings, junior accounts) and council employer partnerships. Direct comparator for scale, product range, and member-facing digital channels.
• Plane Saver Credit Union: UK credit union originally formed for the aviation community, now offering savings and loans to a defined common bond group. Comparable cooperative model, FCA/PRA authorisation, payroll deduction schemes, and junior savings programmes.
• London Mutual Credit Union: UK community credit union serving the London Boroughs of Lambeth and Southwark with savings, loans, and payroll deduction services. Closest analogue in terms of London borough common bond, member-owned cooperative structure, and target member base of local residents and workers.
• Glasgow Credit Union: One of the larger UK community credit unions, offering savings, loans, mortgages, and payroll deduction to Glasgow residents. Useful comparator for product breadth, loan book size, and operational scaling within a common bond area.
• Hertsavers Credit Union: Hertfordshire-based community credit union serving a defined geographic common bond with savings, loans, and payroll deduction schemes. Direct peer in terms of scale, county/regional focus, and member-owned cooperative model.

Broad incumbents

• Ecology Building Society: UK building society focused on ethical lending and sustainable housing, offering savings accounts and mortgages. Broader incumbent operating in the ethical/community finance space with a wider product range and UK-wide reach.
• Charity Bank: UK ethical bank providing loans to charities and social enterprises, funded by savers seeking a community-mission proposition. Broader incumbent in the same ethical/community finance space, demonstrating how mission-driven deposit-takers scale beyond a single credit union's product set.
• Reliance Bank: UK challenger bank owned by the Salvation Army, offering savings accounts, loans, and ethical banking. Comparable community-mission positioning, FSCS protection, and focus on underserved segments, but operating as a regulated bank rather than a credit union.
• Triodos Bank UK: UK branch of the European ethical bank offering savings, lending, and current accounts with a mission-driven focus. Broader incumbent in the same ethical/community finance category, with a much larger balance sheet and broader product set.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/londoncommunitybank
• LinkedInlinkedin.com/company/london-community-bank

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about London Community Bank