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Tel: 020 7561 1786 (Multilingual advisors available)  •  Fax: 020 7272 8192  •  Email: info@credit-union.coop

Fri 18-Aug-2017
NewsNew salary savings schemes
Print
29 June 2016
New salary savings schemes

We’re delighted that two more employers have linked up with us to provide a payroll deduction savings scheme to their employees.

One is the large City of London based law firm Linklaters and the second is University College London Hospital. Both employers are proud of their role in trying to look after their employees and see this scheme as an additional benefit of working for them as well as a way of supporting the wider community.

These schemes allow employees to have savings or loan repayments deducted directly from their salary. This increases the number of people starting to save and provides access to low cost credit as and when it’s needed.

Chief Executive of London Capital Credit Union, Martin Groombridge says: “Increasingly employers are working with us on such schemes as they recognise that a workforce that is financially sound is also good for business and the wider community.”

Benefits for employers:

  • Reduced staff turnover and absenteeism costs associated with financial stress of employees
  • Financial wellbeing means happy staff and improved performance
  • Meeting your corporate social responsibility objectives.


Benefits for employees:

  • Encourages saving as a way of preventing people get into too much debt
  • Offers support to staff who need assistance with things such as budgeting
  • Provides a low cost source of credit which can greatly reduce the cost of borrowing at those times when it’s necessary.

If you know anyone who works for Linklaters or University College London Hospital, why not tell them about London Capital Credit Union and the payroll deduction scheme? If you are an employer, why not offer the same service to your staff?

To find out more about our payroll deduction scheme and to find out which other employers already offer this service click here.


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  • London Capital Credit Union
  • Tel: 020 7561 1786 (Multilingual advisors available)  • 
  • Fax: 020 7272 8192  • 
  • Email: info@credit-union.coop
  • Web: http://www.credit-union.coop
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