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19 March 2019
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What is a Credit Union?

"About Credit Unions"

The Credit Union “Mission Statement”

Great North Two Thousand (Transport) Credit Union limited is a democratic, member owed and controlled financial co-operative for the transport employees in England and Wales. As a not for profit organisation, our aim is to provide quality services to meet the need of our member within the Credit Union Philosophy.

The Credit Union Story

The modern Credit Union movement traces its origins to Germany and to Friedrich Willhelm Raiffeisen, the Mayor of a small town in southern Germany, who in 1849 formed societies, which later evolved in to Credit Unions. The purposes of these Credit Unions was to enable people to help themselves in relieving debt and poverty.

A Credit Union is a democratic, financial co-operative owned and controlled by its own members. Each Credit Union is run only to benefit its members, all of whom have something in common - the common bond.

We started in 1990 as BECUL which stood for (Busways Employees Credit Union limited), when Stagecoach bought out Busways in 1994 we broke the link with one company and became Great North Two Thousand (Transport) Credit Union Limited. Since then we have expanded and now can take members from employees and their Families (living at the same address) who work for Arriva, the Go-ahead group, Stagecoach and Nexus in England and Wales which is our common bond.

Updated: 02 February 2007