The MONEY@WORK scheme is available for employees of our employer partners
Bristol Credit Union’s MONEY@WORK scheme helps your employees to make deductions for savings or loan repayments directly from their salary. Here’s how it works, and why it’s a great reason to join us.
Let’s face it – currently, very few of us have the headspace for finances. At the best of times, jobs can be high-pressured and you can usually factor from childcare, family commitments and the impending MOT. With time and money pressures we know everyone can feel like it’s a constant cycle of deadlines and things to do. According to research from The Financial Inclusion Centre more than half of workers report that their current financial situation can lead to increased financial worry.
As a Credit Union, we’re in the business of making it easier for people to look after their financial affairs. Bristol Credit Union has been around for 21 years and from the start has been working with a range of employer partners, big and small, on payroll deductions to help their employees manage their financial wellbeing which in turn can help their businesses thrive.
How payroll deduction works
The scheme is available for employees of our employer partners. Members can choose whether they would like to have savings or loan payments deducted from their wages so that when they get paid, the money goes straight into their credit union account and appears on their payslip. Easy!
Watch the video below for more information.
Members can experience reduced stress because they know their loan repayments or savings are being taken care of (and that there’s no risk of spending it first!). For us, it means greater security, one of the reasons our loan rates are so low. And for employers, it means happy employees without money worries, which lowers the potential for problem debt.
Don’t just take our word for it
As the largest Credit Union in the South West offering this service, we’re proud to be working with Bristol City Council, Airbus, United Communities and many others. As a result, thousands of employees can access our services to regularly save with us or borrow from an ethical community provider – often at better rates than a credit card or overdraft. Either way, our members can relax after a busy day, knowing that they’ve taken care of their savings or loan repayments.
So, if it sounds like MONEY@WORK would be a good fit for your company, we’d love to have a chat. Get in touch with us today.