The Transport Credit Union – Savings and Loans

All Alstom UK employees are eligible to become a member of The Transport Credit Union and benefit from a good return on savings, also be eligible to take out loans against their savings.

Dividend Rates based on annual profit paid every February

Savings Account Dividends paid 2024 Limits
(instant access)
1.00% Min £20/month wage deduction
(30 days notice)
2.00% Must be paying £80/month into Standard.
*Max wage deduction £200/month into Goldsaver
(60 days notice)
3.50% Must be paying £80/month into Standard.
*Max wage deduction £200/month into Platinum

*Please note Dividends vary from year to year.

"Six of the Best" Savings Benefits:

  1. Good annual Dividends on savings.
  2. No joining fees, no annual fees thanks to Alstom’s iPrefer Platform.
  3. Free £ for £ Life Cover on Savings up to age 65 and £10k max (normal terms & conditions apply).
  4. You can check your balance online.
  5. Access to good lending rates also with Free Life Cover.
  6. Access to free mortgage broker and good mortgage rates.

The Transport Credit Union is a non-profit taking organisation formed over 40 years ago and jointly owned by its members with all funds used for the benefit of members. We provide a personal service answering all your questions, solving problems or any questions about your account and can be easily contacted by phone or email.
All Members savings (shares) in the Credit Union are fully covered by the Financial Services Compensation Scheme up to the sum of £85,000.

Fixed Interest Rate Loans

As a saver with The Transport Credit Union, our standard loans are available to you at the rates below.

Additionally, Members can take advantage of the below three loan types:

Save and Secure loan – perfect when you need money, but don’t want to touch your Credit Union savings at our lowest interest rate of 3.9% APR.

Car Loan – amazingly low interest rate of 4.9% APR; if successful will be paid directly  to the dealership.

Consolidation Loan – a debt consolidation loan at fixed interest rate of 17.9% APR.

Amount Borrowed Interest Rates APR
£100-2,000 8.3% 15.9%
£2,000-3,000 7.8% 14.9%
£3,000-5,000 6.7% 12.9%
£5,000-7,000 6.2% 11.9%
£7,000-8,000 5.5% 9.9%
£8,000-10,000 4.2% 7.9%
£10,000+ 3.1% 5.9%

✓ Personal attention – no impersonal totally computerised accounts. We are a one-to-one Member service. Our Member Services Team are here for you.

✓ Just use your own Bank account and we feed your monies into that as instructed by you, simple and safer.

✓ Call us at 0141 221 7474 for any question at all.

✓ Excellent loan rates – fixed interest.

✓ No set-up fees, no early repayment penalties.

✓ Free Life Cover on loans up to age 70 (normal terms & conditions apply)

How to Join:

  1. Please complete a membership form and we will send you out a welcome pack with other forms needed to get your membership up and running.  Please note you can also complete this form by downloading and completing the Membership Pack .
  2. When entering your “Pay ref” on the forms, please use your Alstom ID, which can be found on your payslip and is the same number which you use to log in to iPrefer.

If you have any questions or would like to discuss further, please contact The Transport Credit Union on 0141 221 7474 or email


For more information, please contact The Transport Credit Union on 0141 221 7474 or email

Tax & NI

Every basic rate taxpayer in the UK now has a Personal Savings Allowance of £1,000. This means that the first £1,000 of savings interest earned in a year is tax-free. If you are a higher rate taxpayer (40%), then your allowance is £500, but 45% taxpayers have no savings allowance.