Credit unions are community organisations that offer savings and low-interest loans. They are run by members for the benefit of members.

The Croydon, Merton and Sutton Credit Union (CMSCU) is open to anyone who lives, works, studies or volunteers in these three London boroughs.

Visit the CMS Credit Union website 

What Credit Unions do

Credit Unions have three main aims:

  1. to encourage members to save regularly
  2. to provide low-interest loans to members
  3. to provide members support and advice managing their financial affairs

If you're a member, you can make regular deposits into savings, amounting to as much or as little as they can afford. These savings form a common pool from which low-interest loans can be made to members. Members can only apply for a loan after:

  • having been a member of the credit union for one year and
  • have been making regular savings deposits

Visit the CMS Credit Union website or calling 020 8760 5711.


Credit Unions must be registered with the Financial Services Authority (FSA), and they are covered by the Credit Union Act 1979.