A new text messaging service from London Capital Credit Union will help savers and borrowers keep track of their money by allowing them to find out their account balances using their mobile phone.

Martin Groombridge, Chief Executive at London Capital Credit Union

The locally-owned credit union offers both savings accounts and affordable loans and the text balance service is one of a number of ways that London Capital Credit Union is making managing money easier. Members can already access their accounts online and a new mobile app is due to be launched later this year.

By texting the words “mybalance” to the credit union at any time, credit union members who have registered their mobile phone numbers can receive a text message listing their account balances. Balances are updated in real time, meaning loans, savings accounts and membership account balances are all shown on the text service.

Martin Groombridge, Chief Executive of London Capital Credit Union, said: “Staying in control of your money is easiest when you know how much money you have in your account so we are pleased to be able to introduce this new service to help our members manage their money.

“Our new text messaging service is available 24 hours a day so members can check their balances at any time. Texts are charged at standard rates and it is free for members to receive their balance information.”

Martin added: “We like the human touch and are proud of the advice we can give to our members face to face, but we know there is a role for modern technology to help members keep track of their own finances.”

Find out more at www.credit-union.coop.