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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
Salary deduction

Realistic ways to save money

“Great opportunity to help my savings grow. Having salary deductions saves any hassle, and I don't have to worry about anything. Customer Service answered questions quickly, and actions required were carried out promptly.”

Jo

GWCU salary deduction can help you...

Save money easily

Earn competitive interest of 3.04% AER/ 3.00% gross on your balance.

Tell GWCU how much you want to save each month. We’ll transfer that amount automatically from your salary.

Access credit when you need it

Like an overdraft, but even simpler. Borrow £500- £1,500 from GWCU, depending on your salary. Spend it immediately on whatever you need. 

Once you make a payment, you can spend the money again, without reapplying.

Make a big purchase

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. 

Stay on top of repayments easily as they’re taken straight from your salary.

Accounts designed for you

“I can’t overstate how amazing this experience has been! My savings are automatically deducted straight from my payroll, and I don’t even have to lift a finger. No manual transfers, no second-guessing—just pure, seamless saving in the background while I focus on life!”

Emmanuel

Financial wellbeing at work

Why do people need help with money?

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, we’ve 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 don’t tell your employer, or anyone in your company, whether you’re borrowing or saving with us. The payroll department know you’d 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 ‘yes’ or ‘no’ 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.

“The deductions from my pay are fair and never feel overwhelming, allowing me to manage my finances comfortably without stress. GWCU truly understands the needs of their members and offers excellent customer service and flexible financial solutions”.

Grace

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

Working together to make you better off