Plane Saver

What Plane Saver does

Plane Saver Credit Union Ltd is a not-for-profit financial cooperative operating in the United Kingdom under the Credit Unions Act 1979, authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority (Firm Ref: 213609). Founded in 1993 by British Airways employees, the institution has grown to 35,000+ members through a combination of organic growth and acquisitions, including the 2023 merger with Harlowsave Credit Union and the 2025 merger with Money Matters Community Bank. Its operating footprint is anchored at Brentford, with a regional branch in Harlow, and member access is delivered through a native iOS/Android mobile app and an online account management portal.

The product suite comprises nine savings account types (Regular Saver, Junior Saver, Junior Cash ISA at 3.75% AER, Cash ISA, 30 Day Notice, 60 Day Notice, 6 Month Fixed Term at 3.50% AER, Prize Saver, and Christmas Saver) alongside four loan products (Personal Loan from 7.9% APR up to £25,000, Car Loan up to £35,000, Debt Consolidation Loan up to £25,000, and Child Benefit Loan at 29.9% APR). Supporting infrastructure includes a rule-based automated lending decision system with staff-review rights, CRM and cloud-based call recording, free Loan and Life Savings Protection via Cuna Mutual Group (up to £10,000 each), and the Vivup-powered lifestyle discounts platform offering 800+ member offers. A £10 annual membership fee grants access to the full product set, with exemptions for under-18s, means-tested benefit recipients, and payroll partner employees.

Commercially, Plane Saver operates a hybrid distribution model: a B2B employer partnership programme covering 35+ corporate partners (including British Airways, IAG, United Airlines, American Airlines, Air Canada, the Ministry of Defence, and local councils) channelled through payroll deduction schemes with a dedicated Corporate Partnerships & Growth Manager, alongside direct-to-consumer acquisition via app and website. Membership eligibility is broadened through 40+ union and association partnerships (Unite, UNISON, GMB, TUC and others). Revenue is generated primarily through interest spread on the loan book funded by member deposits, supplemented by the annual membership fee, with no publicly disclosed financial figures. The organisation is member-owned under cooperative governance, chaired by Joy Maitland MBE, with a board drawing senior financial-services and HR leadership from PwC UK, Western Asset Management, Meta, and British Airways.

Name

Plane Saver

Legal name

Plane Saver Credit Union Ltd

Website

https://planesavercu.co.uk

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

11–50 employees

Short description

Plane Saver Credit Union is a UK not-for-profit financial cooperative serving 35,000+ members with ethical savings accounts, affordable loans, and lifestyle discounts, distributed via 35+ employer partners (aviation, defence, councils) and direct digital channels.

Ownership category

akta.pro rank

Headquarters

HQ city

Hayes

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Loan Interest: Interest earned on personal loans (from 7.9% APR), car loans (up to £35,000), debt consolidation loans (up to £25,000), and child benefit loans (29.9% APR). Interest calculated on reducing balance with fixed rates.
2. Annual Membership Fee: £10 annual membership fee (83p per month) charged to member accounts. Covers all savings accounts, loan products, lifestyle discounts, and financial education resources. Pro-rata for mid-year joiners.
3. Savings Deposits: Members deposit savings into various accounts (Regular Saver, Cash ISA, Junior Cash ISA, Christmas Saver, Prize Saver, Notice Accounts, Fixed Term). These deposits form the lending pool.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels8 records

Core offering

Plane Saver is a not-for-profit financial credit union cooperative that sells an annual membership (£10/year) granting access to a portfolio of regulated savings accounts (Regular Saver, Cash ISA, Junior Cash ISA, 30/60 Day Notice, 6 Month Fixed Term, Prize Saver, Junior Saver, Christmas Saver) and affordable loan products (Personal Loan from 7.9% APR, Car Loan up to £35,000, Debt Consolidation Loan up to £25,000, Child Benefit Loan). Members access these via a mobile app and online portal, with distribution also facilitated through employer payroll-deduction partnerships across aviation, military, and local government sectors.

Product overview

Plane Saver is a UK credit union offering a unified financial services membership centred on ethical savings and affordable lending. The core membership (at £10/year) bundles access to nine savings account types — including Regular Saver, Junior Saver, Junior Cash ISA, Cash ISA, 30 Day Notice, 60 Day Notice, 6 Month Fixed Term, Prize Saver, and Christmas Saver — alongside four loan products (Personal Loan, Car Loan, Debt Consolidation Loan, and Child Benefit Loan), the Vivup-powered Lifestyle Discounts platform (800+ discounts), a Financial Education library with 11 expert videos, a Benefits Calculator, a Budget Planner, and free Loan and Savings Protection via Cuna Mutual Group. A Payroll Savings Scheme extends the offering to employer partners. The product is accessible via a native mobile app (iOS/Android) and online account management portal.

Differentiator

Problem solved

Functional benefit

Products and services

• Annual Membership Annual membership at £10/year (£0.83/month) granting access to all savings accounts, loan products, lifestyle discounts, financial education resources, and free Loan and Savings Protection; open to eligible UK working adults.
• Regular Saver

Quantifiable outcome

• Members save average of £1,200 per year on everyday essentials through lifestyle discounts
• +3 more outcomes

Named customers6 records

Segments6 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

15 partnerships are on record, tiered core, supporting and flagship.

• VivupcoreGTM or Marketing PartnerVivup provides the lifestyle discount platform powering member benefits. Plane Saver members access 700+ online and in-store discounts through Vivup. Discounts include supermarkets, fuel, fashion, gym memberships, and travel. Members save average of £1,200 annually.
• Cuna Mutual Group LimitedcoreOthersProvider of Life Savings and Loan Protection Scheme. Offers up to £10,000 loan protection (up to age 70) and life savings protection on Regular Saver, Junior Saver, Prize Saver, and Christmas Saver accounts. Plane Saver administers claims between members and CUNA Mutual.
• QuiltersupportingStrategic or Co-development PartnerFinancial advice business providing expert webinars and financial planning education content for Plane Saver members.
• Snoop (Money Management App)supportingStrategic or Co-development PartnerFree money management app partnership. Snoop tracks spending, sets budgets, cuts bills, and helps members save. Integrated as recommended financial tool.
• Debt Camel (Sara Williams)supportingStrategic or Co-development PartnerFinancial coach providing debt management education content through Plane Saver's financial education platform.
• Ministry of Defence (MOD)flagshipStrategic or Co-development PartnerSelected in 2015 as one of three UK Credit Unions to support MOD personnel. Over 6,000 military and veteran community members served. Scheme includes Army, Navy, RAF, and veterans.
• Harlowsave Credit UnionflagshipStrategic or Co-development PartnerMerged with Plane Saver in 2023. Brought additional community members and branch presence in Harlow.
• Money Matters Community BankflagshipStrategic or Co-development PartnerCompleted merger in 2025. Expanded community reach and member base.
• ABCUL (Association of British Credit Unions)supportingOthersIndustry association for UK credit unions. Board member David Anderson joined ABCUL board in 2022. Plane Saver participates in wider credit union movement.
• First Defence FinancesupportingGTM or Marketing PartnerJoint member discount arrangements. FDF members can access The Gym Group 10% discount through Plane Saver partnership.
• British AirwaysflagshipChannel Partner/ Reseller/ DistributorFounding employer partner from 1993. Original common bond. BA employees and family members eligible for membership through payroll deduction scheme.
• IAG (International Airlines Group)flagshipChannel Partner/ Reseller/ DistributorCorporate partner including IAG, IAG Cargo, IAG Loyalty, IAG Transform employees. Multiple airline brands under one corporate group.
• United AirlinescoreChannel Partner/ Reseller/ DistributorCorporate partner offering Plane Saver membership and payroll savings to employees.
• American AirlinescoreChannel Partner/ Reseller/ DistributorCorporate partner offering Plane Saver membership and payroll savings to employees.
• Air CanadacoreChannel Partner/ Reseller/ DistributorCorporate partner offering Plane Saver membership and payroll savings to employees.

Scale indicators8 records

Recent moves10 records

Expansion highlights6 records

Broad incumbents

• Coventry Building Society: One of the UK's largest building societies and the second-largest UK mutual. Comparable mutual structure offering savings accounts, ISAs, and mortgages to consumer members, competing for the same UK ethical-savings and affordable-lending positioning as Plane Saver.
• Leeds Building Society: UK building society offering savings, mortgages, and personal loans to UK consumers with a strong regional (Yorkshire) heritage but national reach. Comparable mutual savings and lending provider with overlapping customer segments, though operating as a building society rather than a credit union.
• Skipton Building Society: One of the UK's largest building societies with a national savings and mortgage franchise. Comparable mutual savings/loans provider targeting UK consumers with similar product positioning (savings ISAs, personal loans, ethical positioning).
• Nationwide Building Society: The UK's largest building society and largest mutual financial institution. Comparable as a UK mutual offering savings, mortgages, and personal loans to consumer members, though operating at significantly greater scale and with a broader geographic common bond than Plane Saver.
• Yorkshire Building Society: Major UK building society offering savings, mortgages, and insurance products. Comparable as a UK mutual financial institution competing for the same member savings and lending wallet, though at materially larger scale than Plane Saver.
• The Co-operative Bank: UK high-street bank operating under cooperative values and ethical positioning. Comparable cooperative structure and customer base of values-driven UK consumers seeking an ethical banking alternative, though serving a substantially broader customer base than Plane Saver's community-bond membership.

Regional players

• Newcastle Building Society: North-East England-based mutual building society offering savings accounts, mortgages, and investment products. Comparable UK mutual structure serving a defined community with similar savings and lending product mix, though with regional rather than sector-based common bond.
• Principality Building Society: Wales-based mutual building society offering savings, mortgages, and personal loans to UK consumers. Comparable UK mutual structure and product suite, though with stronger regional (Welsh) concentration than Plane Saver's aviation/military-led common bond.

Direct peers

• London Mutual Credit Union: UK credit union serving members across London and surrounding areas with savings accounts, affordable loans, and ethical banking services. Direct peer operating under the same Credit Unions Act regulatory framework with similar product mix and cooperative member-owned structure.
• Hoot (formerly Manchester Credit Union): UK credit union formed via merger of multiple regional credit unions, offering savings and loans to members across the North West of England. Direct peer — same credit union structure, similar member-bond model, similar product suite, and similar merger-driven growth strategy as Plane Saver.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Customer concentration

• YouTubeyoutube.com/@PlaneSaverCU.
• Facebookfacebook.com/planesaver
• LinkedInlinkedin.com/company/plane-saver-credit-union
• Instagraminstagram.com/planesavercu
• Xx.com/planesavercu

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Plane Saver