Defence award for Plane Saver
17 Jun 16
Plane Saver Credit Union has won an award for its support for the Armed Forces community.
The Defence Employer Recognition Scheme (ERS) encourages employers to support defence and inspire others to do the same. The scheme encompasses bronze, silver and gold awards for employer organisations that pledge, demonstrate or advocate support to defence and the armed forces community, and align their values with the Armed Forces Covenant.
Plane Saver Credit Union has received a Bronze Award as part of its contribution towards the Covenant. This is national recognition for the credit union’s commitment to support the Armed Forces community.
As part of the Government’s objective to help Armed Forces personnel gain access to credit union services, Plane Saver was selected as one of three credit unions to provide savings and loans to servicemen and women via payroll deduction.
The credit union pledged to strive to improve financial inclusion for serving Armed Forces personnel, veterans and their family members, and since launching services for defence personnel in October 2015, Plane Saver has recruited over 250 members from the Armed Forces and made them loans worth £300,000, representing significant savings on the interest many commercial lenders would have charged.
Founded in 1993 to provide affordable financial services to British Airways staff, Plane Saver Credit Union is now one of the largest credit unions in Britain, with around 10,000 members from an expanded common bond that serves employees in the wider airline and air transport industry, as well as the Armed Forces.
The Ministry of Defence has joined Plan Saver’s existing range of partner employers who recognise the value of their staff being able to save and repay loans direct from payroll, including British Airways, Air Canada, IAG, American Airlines, Babcock, Avios and many more.