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M M AFSAR RAYHAN

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Review of the London Capital Credit Union, Savings:

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Would Not Recommend

I applied for a loan from London Capital Credit Union in good faith. I submitted all required documents – including my passport, BRP, payslips, and proof of address. After waiting patiently for over two weeks, I received a phone call confirming that my loan had been approved and I would receive the funds the next day. Based on that confirmation, I paid the deposit, signed the loan agreement, submitted my bank details, and prepared for the Direct Debit to start. I had become a member specifically because I was looking for financial help with some debt and a loan to cover my accommodation deposit. However, just hours before the funds were expected, I received a text message saying the loan had been declined — without proper explanation or accountability. No one informed me in advance. I was left in shock, with no funds, a missed Direct Debit, and serious damage to my credit. I filed a formal complaint, and as of now I’m still waiting for a meaningful response. The emotional distress, financial impact, and total lack of care shown have been appalling. Would not recommend based on my experience — especially to anyone hoping for a thoughtful or responsive service. This is not a place for people in genuine need. I plan to escalate this complaint to the Financial Ombudsman, and I am now considering further action, including legal steps through the High Court if necessary. This organisation has proven to be absolutely incompetent and a complete waste of time. Reviewed on: 12th June 2025

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