Bath-based nursery signs up to affordable employee loans from Bristol Credit Union
First Steps Bath has joined the growing ranks of local businesses signing up for Bristol Credit Union’s Employer Partnership Scheme. Employees of the Bath-based community nursery will now have access to ethical borrowing and savings, with the possibility for discounted loan rates and exclusive loan products.
Employees can save directly from their payroll deduction, which helps to provide ethical and affordable loans at competitive rates to local members and improve their financial resilience. The money will stay in the local economy, helping independent businesses and the local community to flourish. Any surplus money is reinvested into the Credit Union or returned to members as a dividend.
The growing list of companies on the Employer Partnership Scheme includes Airbus, Better Food, Bristol City Council, Bath and North East Somerset Council, Interaction Learning and Development, Centre for Sustainable Energy, Knowle West Media Centre and plenty more.
James Berry, CEO of Bristol Credit Union said:
With this move, First Steps Bath have provided their staff with the chance to access ethical savings and low cost loans. This allows First Steps Bath to discreetly help any team member who may be going through a tough time financially whilst maintaining employment without a major impact on their personal finances. First Steps Bath is very much welcomed to our growing club of business partners on our Money@Work programme and there is room for more.
Roz Lambert, CEO of First Steps Bath, commented:
Joining BCU’s Employer Partnership scheme means we can provide this service to our staff and support their wellbeing. Opportunities for our staff to save and manage their money will help to retain talent, reduce financial stress resulting in improved workplace relationships.
The credit union recently announced a merger with Wyvern Savings and Loans (WSL), which adds 3,000 members and £1.9m in deposits to BCU’s existing 16,000 members and £7 million deposits. The move supports Bristol Credit Union’s mission to triple its membership over the next 5 years.
For more information on the Employer Partnership Scheme and its benefits, visit: https://moneyatwork.org.uk/
Find out more about First Steps Bath here: https://www.firststepsbath.org.uk/