Formed in 1996 by volunteer Worker Directors at First Group in Sheffield, Transave was originally set up as a credit union for employees in the passenger transport industry.
From the outset, the simple aim was to help colleagues in financial need and encourage the habit of saving regularly. It was the vision of Transave’s founder Dave Edwards which started this journey. Although the bulk of its members are still employed in the bus passenger transport industry, Transave has been successful in expanding its operations to include other sectors.
Employer partners currently include First Bus, Stagecoach, South Yorkshire Police and Doncaster and Bassetlaw Hospitals NHS Trust. Transave now holds more than £19 million of members’ savings, and it has loaned out over £100 million to members during its 20-year history. The Credit Union in 2016 is now able to look forward in confidence to a further period of major expansion and success in the future.
The Fairbanking Foundation in 2018 recognised the effectiveness of the loans of Transave Credit Unions and they were awarded the highest classification of a 5-star Mark and now join the other 17 credit unions who have achieved this mark.
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