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Salary scheme makes saving easy

Saving a little bit each week or month direct from your pay packet is one of the best ways to build up a nest egg for a rainy day. If you work for one of a wide range of employers, you could benefit from our Credit Union Salary Savings scheme…

Dozens of local and national employers offer Salary Savings to their employees through the Credit Union. If you work for one of these employers, you can sign up for our scheme today.

Research shows that, by paying a small amount each month into a savings account directly from your pay packet, you are more likely to save and not forget to make payments or spend the money on something else. Salary payroll deduction is so easy that, once it is set up, you don’t have to think about it, as the money is deducted automatically.

If you need to borrow some money from the Credit Union, you can also arrange for your loan repayments to be made directly from your salary. In fact, if you are using our payroll deduction scheme, you will get priority when you apply to borrow from us.

We offer a range of low-cost loans for different requirements at very competitive rates of interest. Loans can be repaid over a period to suit you and you can, by arrangement, vary payments if your circumstances change, and repay early without penalty. Interest is only charged on the reducing balance of the loan and we would never encourage anyone to borrow more than they need.

Our unique Saver Loan even allocates part of any repayment to your Credit Union savings account, so as the loan is paid off, you accumulate savings. The Credit Union can also help with budgeting and money management to employees who join us, and we can offer advice and support when you need it.

Credit Union Chief Executive Martin Groombridge said: “Having a pot of savings is vital in today’s world, whether it’s to cover unexpected emergencies or to help with the cost of things like Christmas or holidays. Saving a little bit each week or month direct from your pay packet helps to provide peace of mind and reduces the stress caused by financial problems.”

If your employer is already working with us, simply complete the form on our website and we will take care of the rest. If your employer isn’t listed, please contact us as we also have many small employer partners offering our services as an employee benefit. Alternatively, we may be able to contact your employer about offering our scheme.

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