1,000 Forces personnel join Plane Saver
30 May 17
Plane Saver is now serving more than 1,000 members of the British Armed Forces.
The credit union started serving military personnel in October 2015 with the launch of Joining Forces. The arrangement, backed by the Ministry of Defence (MOD), is designed to tackle problems faced by military personnel who may find themselves with limited access to financial services and potentially vulnerable to high cost credit providers.
Plane Saver is one of three credit unions providing simple savings accounts and affordable loan repayments for Service personnel straight from their pay. More than 1,000 Armed Forces personnel have now joined Plane Saver and have borrowed more than £1 million from the credit union.
Last year, Plane Saver was awarded the Bronze Award for its support for the defence community as part of the Armed Forces Covenant.
Plane Saver CEO Valerie Walwyn said: "It is great to see we are delivering on our promise to serve the Armed Forces community. We are extremely proud to play our part in terms of improving the financial well-being of those that have served our country."
Since its inception in 1993, Plane Saver has developed into one of the largest credit unions in the country, serving over 11,000 members and making loans worth over £100 million to date.
As well as members of the Army, Navy and Royal Air Force, their family members and veterans who are in receipt of an MOD pension, Plane Saver also serves the airline and transportation sectors, including employees of British Airways, United Airlines, American Airlines and many more.