Established in 1981 Companies House Number 14CUS was started in 1981, the first transport credit union in the UK and only about the second industrial credit union.
They were only the second Scottish credit union to qualify under deregulation after being awarded their 11C certificate to make loans of up to £20,000 over a 10-year period.
The credit union board took a cautious approach to their lending allowing policies to grow over a period of time. They were also granted a Section 65 exemption certificate during that year. This meant that the Registry would allow them to exceed their current 5,000 membership.
This extended membership was achieved in 1997, with a changed common bond to include those working in the Scottish passenger transport industry. Membership had been restricted to members of a particular trade union
Going forward into 1998 there was 17 companies within the credit union. The credit union continued to grow year on year and began trading from August 2007 as Transport Credit Union.
Membership coming from the road haulage, passenger transport industry, regulated ambulance services, Alexander Dennis, Network Rail, Transport Scotland, Scottish Airports and Associated British Ports in Scotland England and Wales.
The Transport Credit Union has its Head Office in a prominent building in Glasgow City Centre. Membership currently stands at over 13,000
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Want to find out more?
Visit the Scottish Transport Credit Union website, or get in touch with their team:
Telephone – 0141 221 7474
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