1,000 new members for Plane Saver!
09 Sep 16
Plane Saver Credit Union has attracted over 1,000 new members in one financial year for the first time in its history.
The credit union, which serves employees in the airline, air transport, protective services and engineering industries, has reached this significant membership growth milestone since the new credit union financial year began on 1 October 2015 – still with a month to spare!
Since its inception in 1993, Plane Saver has developed into one of the largest credit unions in the UK, serving over 10,000 members and making loans worth over £100 million to date.
Originally founded to provide affordable financial services to British Airways staff, the credit union has since 2010 expanded its field of membership to offer its services to employees in a wider range of related sectors.
Plan Saver’s partner employers who recognise the value of their staff being able to save and repay loans direct from payroll now also includes Air Canada, IAG, American Airlines, Babcock, Avios and since last year, the Ministry of Defence.
Plane Saver Head of Marketing Rob Lovesey said: “Achieving this milestone is a clear sign that within the current market there is increasing demand for the wide range of financial services provided by credit unions, particularly within the uncertainty surrounding the current economic climate.
“In addition, one of the key factors was launching with the Ministry of Defence in October 2015. It shows the importance of credit unions widening their target market, attracting new payroll partners to help stimulate both membership and loan growth”.