
Salary deduction
Salary deduction is our popular employee loan and saving scheme.
- We partner with employers to support you with money (check if yours is on the list)
- Borrow or save money with excellent interest rates
- Tell us how much to put into your savings account straight from your salary
- Repay loans with salary deductions making repaying easy and consistent

Realistic ways to save money
GWCU salary deduction can help you...
Earn competitive interest of 3.04% AER/ 3.00% gross on your balance.
Tell GWCU how much you want to save each month. Weâll transfer that amount automatically from your salary.
Like an overdraft, but even simpler. Borrow ÂŁ500- ÂŁ1,500 from GWCU, depending on your salary. Spend it immediately on whatever you need.Â
Once you make a payment, you can spend the money again, without reapplying.
Borrow at an exclusive interest rate of 7.9% APR. Use it to consolidate debts, buy the car your family needs, or spruce up your home.Â
Stay on top of repayments easily as theyâre taken straight from your salary.
Accounts designed for you
Financial wellbeing at work
Why do people need help with money?
-
A third (34%) of UK adults have no savings, or less than ÂŁ1,000 of savings
-
Almost two-thirds (65%) of UK adults believe if they lost their job they would have to borrow money within three months to survive
-
Over 11 million adults across the UK are either âstrugglingâ or âsqueezedâ when it comes to finance
-
81% of people avoid discussing their finances, with just over a fifth (21%) saying they are fearful of being judged by others
Responsible lending
Changing patterns, changing lives
We understand that finding the right financial support can be overwhelming. At GWCU, we're here to make the process as simple and transparent as possible.
To help you feel more confident in your decision, weâve debunked some common myths about choosing a lender.
“I’m just bad with money”
Managing money is difficult. It can be made harder by your circumstances, such as illness, stress, or looking after family. Most people need a little support to build financial wellbeing. Salary deduction with GWCU is designed to make managing your money as easy as possible. Repayments are manageable, and savings deposits are flexible. Our excellent Member Engagement Team are always here to help our members.
“I don’t want my boss to know what I’m borrowing or saving”
Any decisions or actions you take with your money are confidential. We donât tell your employer, or anyone in your company, whether youâre borrowing or saving with us. The payroll department know youâd like an amount of money to be deducted from your salary and they send it automatically to GWCU. No information is shared about if that money is for savings or for a loan repayment. No information is shared about your repayment schedule or credit rating.
“I don’t know if my boss would sign up to this”
GWCU has partnered with businesses all over the south and west counties of England to provide this service to employees. Our operations team will contact your employer when you apply with us. We will handle all conversations with your boss or HR department to set up the partnership.
“I’ve been turned down for loans before”
Many people find applying for credit hard sometimes. Each lender has different reasons for saying âyesâ or ânoâ to an application. Even if you have been turned down before, you will always be considered for a loan with GWCU. We will do our best to help you.
GWCU partners with local businesses and employers












Ethical community finance
Who are Great Western Credit Union?
-
Established in Bristol in 1999
-
The largest credit union in the region
-
Owned and operated by our members
-
Praised member service from real reviews
-
Serving people who need help with money
-
Proud to make a difference in our communities