Manchester Credit Union Sector Cuts the Cost of Travel Through Saving Initiative

Friday 6 September 2024

With four months to go until all buses in Greater Manchester come under local control, this week (Thursday 05 September 2024) Mayor of Greater Manchester, Andy Burnham confirmed plans for a new annual bus pass that will cut the cost of travel in the city region through the Greater Manchester Consortium of Credit Unions.

Available from January – subject to agreement by the Greater Manchester Combined Authority – and costing £800, customers will be able to spread payment, at no extra cost, throughout the year with a Credit Union loan – saving almost £5 a week, almost £20 a month and up to £240 a year compared with the lower fares also being introduced for seven- and 28-day Bee Network bus tickets.

Transport for Greater Manchester (TfGM) is working with Greater Manchester Credit Unions to enable to people to apply for the new annual pass from December 05 2024, so their bus ticket is available to use from January 05. TfGM is also working with the Credit Unions to offer customers the chance to spread the cost of existing annual Metrolink products or an annual bus and tram pass from March 2025.

And a new ‘hopper fare’ will replace single tickets on Bee Network services, providing passengers with more flexibility by allowing them to ‘hop on’ as many Bee Network buses as they like within one hour.

The annual, weekly and 28-day tickets will provide unlimited travel on Bee Network bus services across the whole of Greater Manchester and are intended to make public transport more affordable so more people can access jobs, training and opportunities.

Mayor of Greater Manchester, Andy Burnham, said: “With so many people across Greater Manchester struggling with the cost of living, I am really pleased we are able to drive down the cost of using Bee Network buses by reducing the price of weekly, 28-day and annual travel.

“Through this innovative initiative we are making our best value products available to all, and I hope it helps give people worried about bills certainty about the cost of travel and gives them one less thing to worry about.

“This is only possible because we are leading the way in bringing buses under local control after almost 40 years, and now we are leading the way in making our networks more accessible, inclusive and affordable.”

Chief Executive of Metro Moneywise Credit Union & Executive Lead for the Greater Manchester Consortium of Credit Unions, Ciara Davies added: “The Greater Manchester Consortium of Credit Unions is delighted to be involved in this innovative new initiative with Transport for Greater Manchester.

“This new product will spread the cost of travel and save people money which is just one of the ways in which credit unions can help make your money go further.”

Salford City Mayor Paul Dennett, said: “This announcement on cheaper fares on the Bee Network is fantastic news for local people, and following on from the recent night-bus rollout, shows the benefits of having an integrated, public-controlled regional transport system.

“Many residents are struggling in this cost-of-living crisis and a lot of hard work has taken place behind the scenes to provide cheaper travel for our residents.

“I would urge people to look at options with their local credit union as there are many ways they can help with accessible loans and options to save, both at very competitive rates when compared to high-cost lenders.

Robert Kelly: “At ABCUL, we are pleased that the collaboration of Greater Manchester Credit Unions is paying off with this exciting new initiative. It marks a pivotal stride in enhancing affordable transportation for communities across the region and we are delighted that credit unions are at the forefront of providing this upfront expense.”