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Mutual aid groups developed and mobilized in communities across the UK and globally at the outset of the pandemic in order to support vulnerable community members with practical assistance and emotional support, with some understanding their work in political terms. This study adopted a "social cure" lens to investigate the effects of group identification and group perceptions on anxiety and coping self‐efficacy among members of UK Covid‐19 mutual aid groups. Survey data were collected from self‐identified members of these groups (N = 844) during the initial period of "lockdown" restrictions in April – May 2020. Correlational analyses showed that identification with the mutual aid group was linked to more positive group perceptions and better self‐reported psychological outcomes. Perceived group politicization showed the reverse pattern. Mixed support for the "social cure" model was evident; the effect of group identification on coping self‐efficacy (but not anxiety) was serially mediated by perceived support and collective efficacy. Perceived group politicization was a significant moderator, seeming to amplify the indirect effect of group identification on coping self‐efficacy via perceived support. Results are discussed in light of previous empirical work on the social cure and Covid‐19 mutual aid groups. Please refer to the Supplementary Material section to find this article's Community and Social Impact Statement. [ABSTRACT FROM AUTHOR]