Transave Credit Union
Login to your online accountRegister for your PIN to access your account online

Tel: 0114 243 8437 Email: enquiry@transaveuk.co.uk

FAQs FAQs

What is a Credit Union?

It is a group of people who save and borrow from each other and who are joined by a Common Bond.

Who runs TransaveUK ?

It is run by a Board of Directors chosen by the membership of which there are 3 executive directors who are members of staff and 7 non executive members.

How many members has TransaveUK ?

We have over 11 thousand active members.

What other companies have joined TransaveUK?

First Group ( Bus and Trains) London United Buses, Arriva Bus Group, Gripple, City Health Care Partnership , Care Plus Group, and Provide. These are a few of the companies that have joined TransaveUK . See the about us section for the full list.

How do I pay into TransaveUK?

Payment comes directly from your salary, once you have joined, TransaveUK will contact your wages provider and set-up a weekly or monthly pay deduction of the amount agreed on your application form.

Please Note: all future amendments / alterations to your payments must be authorised by TransaveUK. Members cannot deal with their wages provider directly in respect of their payments to TransaveUK .

What interest does TransaveUK pay on savings?

Credit unions do not pay interest; they pay a dividend which is approved by the membership at the Annual General Meeting. On average, Transave UK have paid a 2.25% dividend to its members each year since its inception. This dividend is provided out of the profits made by TransaveUK in the current year. There are no external share holders, credit unions are run on a not-for-profit basis.

What happens when or if I leave my employment?

You can remain a member providing you either transfer to another TransaveUK partner company or set-up a Direct Debit or Standing Order to continue payments to TransaveUK .

How safe is my money?

Any savings up to £85,000 are covered by the UK Government's Financial Services Compensation Scheme.

How can I find out my savings balance?

There are three ways, firstly you can ask TransaveUK for a secure Login Pin number, this will allow you to view your account on-line at any time. Secondly, you can call Head Office on 0114 2438 437 and speak to one of our admin controllers or thirdly you could e-mail us at enquiry@transaveuk.co.uk.

Can I apply for a loan?

Yes, provided you meet the qualifying period and your savings are sufficient to meet our Loan Criteria. (Our current policy on loans is as follows)

(a) You must have been saving for at least 4 weeks and
(b) you can borrow 2.5 times your savings.

For example; £400 savings will allow you to have a £1,000 Loan.

Please Note; TransaveUK policies are subject to changes as agreed and approved by the Board and the Annual General Meeting.

How do I apply for a Loan?

Contact the Head Office and speak to one of our trained admin controllers they will explain your options in line with TransaveUKís current Loan Policy.

What happens if I leave my employment and I have a loan with TransaveUK?

You must notify TransaveUK as soon as possible of any pending changes in your circumstances, for example leaving because of Retirement, Change of Employer, Medical Retirement and or Employment Termination.

If you have a Loan and you do not contact TransaveUK immediately and you are aware of any possible change in your circumstances, then under Clause 3.6 and 3.7 of our Loan Agreement TransaveUK reserve the right to collect from your Final Salary the Balance Due on your Loan.

Can members of my family join TransaveUK?

Yes provided they live at the same address as you. Proof of Identity will be required in all applications. Approved Examples, Birth Certificate, Utility Bill, Passport and Driving Licence where applicable.

Are Juvenile Members Allowed?

Yes provided they live at the same address as you. Proof of Identity will be required in all applications. Approved Examples, Birth Certificate, Utility Bill, Passport and Driving Licence where applicable.
  • Transave Credit Union
  • Tel: 0114 243 8437
  • Email: enquiry@transaveuk.co.uk
  • Web: www.transaveuk.co.uk
At Transave we provide a fair return on your savings, and access to affordable credit. We operate in an ethical manner for the mutual benefit of all members, keeping our policies clear, simple and fair for all. If you have a questions regarding any aspect of our policies or procedures please contact us: rachael.kershaw@transaveuk.co.uk

Transave is authorised by the Prudential Regulation Authority, and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.