Plane Saver Credit Union breaks new records in lending and membership
12 Apr 19
Plane Saver Credit Union has once again broken its records in terms of lending and membership in its first quarter of 2019.
A total of £4m has been lent between January – March 2019 and Plane Saver have increased membership for the first three months of 2019 breaking all records. They are currently performing 100% above last year’s figures for the same period. “We have been working incredibly hard to spread the word about the benefits of joining Plane Saver and this is a direct result of our efforts”, says Valerie Walwyn, Chief Executive of Plane Saver Credit Union.
Towards the end of 2018, Plane Saver launched its ‘payday payoff' loan facility, following the collapse of the pay-day lender, Wonga.
The facility was created to support serving military personnel who may be affected by Wonga’s withdrawal from the marketplace. PSCU’s offer is significantly better than Wonga’s as interest rates will range between 3.4% - 36.8% and could save individuals as much £500 in interest payments.
Commenting on the launch of the loan product, Valerie said: “We want to help them avoid any potential interest rate increase and are inviting anyone with a Wonga loan to get in touch, so we can look to repay their loan and offer them our favourable interest rate loan offer.”
2018 was a special year for Plane Saver, not only celebrating its 25th anniversary but also celebrating winning the UK’s Ethical Services Provider of the Year at the third annual Money Age Awards.
Speaking after the announcement of their big win, Valerie said: “This award recognises the efforts that we make day-in and day-out to respond to our members' needs and I'd like to say a big thank you to the Plane Saver team for all their hard work in getting us here.”