Transave Credit Union has entered a partnership with fintech Haboo Money to offer a digital lending system with flexible repayments that reflect modern income patterns.
Founded in 1996, Transave has more than 30,000 members, primarily in the transport, police, and health sectors, and provides payroll-deducted savings and loans.
Haboo says the partnership will modernise the way it engages those members “at a time of increasing financial volatility” when “traditional lending systems can often struggle to support members whose incomes do not follow a predictable monthly pattern”.
It warns that for many borrowers, a fixed repayment date and rigid repayment structure can increase the risk of missed payments and avoidable financial difficulty.
The partnership, added Haboo, “is focused on creating a more personalised and supportive repayment experience for members”.
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By aligning repayment schedules more closely with members’ real-world income patterns, Transave is hoping to help more members stay on track, recover from arrears and build greater financial resilience over time.
Haboo added: “Transave will now be able to move beyond traditional digital servicing and towards a more adaptive engagement model. Through the use of underlying transaction and engagement data, Transave can sustainably lend into new segments with greater confidence, providing accessible credit to those typically marginalised by the current system.”
Transave CEO Ian Sibbald said: “This partnership with represents an important step forward in how we support our members. At Transave, we understand that people’s financial lives are not always predictable, and it’s vital that our services reflect that reality.
“By introducing a more flexible approach to engagement and repayment, we can better support our members to stay on track, recover from difficulties and build long-term financial resilience.”
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Haboo CEO Hannah Baynham said: “The credit union sector has always been a leader in community focused lending, but they have often been held back by static, 20th century technology.
“We built Haboo to close that gap. By layering an adaptive engagement experience over Transave’s existing systems, we are helping them turn the challenge of unpredictable income into an opportunity for growth. We are so excited to partner with a forward thinking team like Transave to prove that lending can be both more inclusive and more more resilient when it is designed around the way people actually live today.”
