British Credit Union Historical Society

Scottish Transport Credit Union Limited

The Scottish Passenger Transport Credit Union was first begun 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.  The credit union was 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  

Grampian Credit Union Ltd

 Grampian Credit Union Ltd was set up in 1993 for employees of the then Grampian Regional council now Aberdeen city, Aberdeenshire and Moray councils. They later took on those working for NHS Grampian, and in 2007. The decision to widen the common bond again allowing anyone living or working within the Grampian area to join up and access savings and loans. Starting off in Mary well School with two members of staff, in its first year the Credit Union recruited 358 members. 20 years on and 4 moves later (from Marywell School to King Street to Summerhill Education Centre to Belgrave House and now Holburn Street) Grampian Credit Union has recruited nearly 7000 members over the years, given out more than £20 million in loans, and helped members to a fantastic £3 million in savings accounts. The Holburn Street premises have given the visibility on the high street and this has been reflected in the continued member, savings and loans growth. The Current Account means members have even more choice and a more complete service. 2010 credit union teamed up with the Co-op to deliver electrical goods at a low price to members.  2014 Grampian Credit Union took the decision to take part in the UK wide Credit Union Expansion project, with the aim to attract up to 1 million more people into Credit Union membership within the next 10 years.In 2016 the Credit Union has been awarded £100,000 by Lloyds Banking Group to enable it to support more people in the north east of Scotland, also open to all people living and working in the Grampian area. The money would allow the Credit Union to increase its funding, which will in turn enable it to increase its membership, savings and lending in the future. The awarding of this grant was significant, as the North East of Scotland faced a challenging climate.

Taxi Trade Credit Union Ltd

Started out as Glasgow Licensed Taxi Trade Credit Union Limited in April 1980 when 16 taxi drivers got together to discuss the setting up of a credit union. After some training and Information from other credit unions and with a £1 deposit from each the birth of something big had begun.  January 2008 was when the name changed to Taxi Trade Credit Union Ltd. Based in Wallace St Glasgow Over the many years the credit union has served the members with loans of over £17,500,000. They have their own purpose building, employing a number of staffs who appointed by the volunteer board to deliver services to the members. The credit union has over 1.5Million of members savings and these continue to grow. The success of the credit union is down to the good governance of the volunteer directors and dedication of staff. There are collection points all over the city of Glasgow for the benefit of ease to members. The future of the credit union has been established after a member’s survey benefitting the board to set a strategic plan that is in the best interest of the members. The clear feedback has been the demand for offering a comprehensive range of financial products like ISA’s, some insurance and better use of new technology for improved communication. Ph. 01414295394

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18.08 | 14:55

I am very proud to be a part of the credit union and the ethos of people helping people.

Congratulations to No1 CopperPot.

14.07 | 04:57

A very inspiring and educational experience. It awaken my interest to serve the community.

01.07 | 13:06

As schools Development Worker for Unify Credit Union, I found the schools project resources very useful.... some really good ideas, Thank you x

23.11 | 16:41
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