For Employers

Transforming Financial Wellbeing in the workplace

Transave partners with employers to support the financial wellbeing of their workforce with
access to salary-deducted savings and loans.

Some of the organisations that are already working with Transave:

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Employer FAQs

TransaveUK is a valuable employee benefit offered completely free of charge to employers. Furthermore, there are no joining fees for individuals.

All services are provided directly by Transave and we accept individual and corporate liability for the operation of the scheme.

Transave is fully regulated by the FCA and the PRA, who are also responsible for banks and building societies. These regulators require rigorous financial systems, fully trained staff and internal/external audit systems.

Individual members are also covered by the Financial Services Compensation Scheme (FSCS) for all savings up to £85,000

Our rates have been designed to be an attractive alternative to the rates offered by traditional lenders. All profits after costs are returned to members as a dividend on savings that has averaged 2% in recent years.

Also, because loan repayments are made via salary deductions, the risk of an employee defaulting is reduced, enabling lower interest rates for member’s loans.

If an employee leaves, we will work with them to set up a direct debit to replace the former payroll deduction payment. This enables them to remain a member of Transave.

Yes. Transave has been operating successfully for the last 25 years and have over 17,000 members. In the UK as a whole there are almost two million credit union members accessing affordable finance.

No. Transave’s primary aim is to promote financial resilience by encouraging members to save. Over time the member can build up sufficient savings to end the cycle of borrowing.

However, if members do require a loan we offer an affordable alternative to high street bank loans and other forms of consumer credit.

Minimal administration is involved. All the employer is required to do is to facilitate monthly deductions from salary.

To meet the requirement to be a responsible lender we carry out credit reference checks when considering loan applications.

However, we also take into account the member’s savings record and any other relevant facts.

See what our current payroll partners say about working with us

First Bus partnership with Transave

First Bus has been in a very effective partnership with Transave for 25 years now. The services provided by the Credit Union are warmly welcomed by our team with over 25% of our 15,000+ employees using Transave. We find the team at Transave extremely helpful and professional and would have no hesitation in recommending them to other organisations thinking of working with them.

Andrew Jarvis, Portfolio Managing Director

Metroline partnership with Transave

We have partnered with Transave since 2013, with its product continuing to be recommended to our employees and is deeply embedded within our organisation which employs over 5,000 people.

The employees benefit from short term quick loans at reasonable rates and value the benefits it offers. Transave also provides a mature method of saving money through pay roll deduction, which our employees find easy to access.

The transactional process is simple, and the online and mobile phone apps work seamlessly requiring no additional support from within our organisation.

Transave have always been professional and quick to respond to any queries we may have had, I personally have been a member for several years.

On the basis above I can recommend them as a competent and professional partner.

Stephen Harris, Managing Director

SUEZ partnership with Transave

We have been partnered with Transave UK since 2019, where we provide the employer run savings scheme (as well as the facilitation of loans through payroll); this is an important benefit in our financial wellbeing portfolio.

The Transave product continues to be recommended to our employees and is promoted on our benefits platform. Take up of both Transave's savings and loans by our employees has been very positive and makes a valuable contribution to the financial wellbeing of our workforce.

Overall, the service provided by Transave has been exceptional and I can wholeheartedly recommend them to other employers.

Michelle Sutton, Head of compensation and reward

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