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 2026 | Limits |
| Standard (instant access) |
1.00% | Min £20/month wage deduction |
| Goldsaver (30 days notice) |
2.50% | Must be paying £80/month into Standard. *Max wage deduction £200/month into Goldsaver |
| Platinum (60 days notice) |
4.00% | 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:
- Good annual Dividends on savings.
- No joining fees, no annual fees thanks to Alstom’s iPrefer Platform.
- Free £ for £ Life Cover on Savings up to age 65 and £10k max (normal terms & conditions apply).
- You can check your balance online.
- Access to good lending rates also with Free Life Cover.
- 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.
Your eligible deposits held by a UK establishment of The Transport Credit Union are protected up to a total of £120,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme.
Any deposits you hold above the limit are unlikely to be covered.
For more information on the scheme, please select the links below to view the FSCS leaflet and the Information Sheet and Exclusions List or visit the FSCS website at www.fscs.org.uk.
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 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 6.9% APR; if successful will be paid directly to the dealership.
Consolidation Loan – a debt consolidation loan at fixed interest rate of 17.9% APR.
APR is calculated on the reducing balance
Active Members can apply for a loan online and our loans Terms and Conditions can be found here
| Amount Borrowed | Interest Rates | APR |
| £100-3,000 | 8.3% | 15.9% |
| £3,000-5,000 | 6.7% | 12.9% |
| £5,000-7,500 | 6.3% | 11.9% |
| £7,500-10,000 | 5.5% | 8.9% |
| £10,000-25,000 | 4.2% | 7.9% |
✓ 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:
- You can complete the application online, via our posted form or in person at our head office 186 Argyle Street, Glasgow, G2 8HA, or by downloading and completing the Membership application.
- We may also need to ask you for some documents to prove employment, ID and address.
- 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.
Here’s a general guide to help you through your joining journey
1. Eligibility / Membership Criteria – you must be aged 18 or older and currently work within the UK transport industry (all Alstom UK employees are eligible to become a member of The Transport Credit Union).
2. Gather Required ID & Address Documents – We will carry out an electronic ID check when we receive your membership application; this is not a credit check and will leave no adverse foot print on your credit file.
If successful we will ask for a copy of valid identification, such as a driver’s licence or passport and proof of residency (dated within last 3 months). See list of acceptable documents here.
If your ID check is unsuccessful, we may need to ask you to provide an original document for proof of address.
3. Make a Initial Deposit – To be an active member, you need to have at least £1 in your standard shares account. Once your first payment has been received, your account will be active and you will be eligible to receive any loan payment due.
If you have specific questions or need assistance, don’t hesitate to contact us directly on 0141 221 7474 or email enquiries@transportcu.co.uk
Contacts
For more information, please contact The Transport Credit Union on 0141 221 7474 or email enquiries@transportcu.co.uk
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.