A number of companies in Renfrewshire now offer their staff a facility which allows them to make payments to Renfrewshire-Wide Credit Union directly from their pay. This is a great way to save and a simple way to make loan repayments as the money is deducted from pay before it reaches the member’s bank account.
Benefits to employees:
- People who save regularly are better able to cope with any financial distress or unexpected cost.
- It’s a ‘painless’ way to save; it’s often easier for employees to put some money aside before receiving their pay
- If employees take out credit union loans, this is a convenient and simple method of repayment.
- Employees will have special access to low cost credit union Loans and other offers and services from the credit union.
Benefits to the employer:
- Becoming a Select Partner Employer is free
- Easy to administer payroll system, the set-up admin is minimal.
- For no financial outlay the employer provides a valued staff benefit which can help employees to save can reduces stress and sickness levels caused by debt.
- Strengthens Corporate Social Responsibility by reducing the negative impacts of financial exclusion, pay day lenders and other high cost credit providers.
- Benefits the local community; the credit union is locally based helping to retain and circulate money in the Renfrewshire economy.
- Offering membership to a credit union is a commitment to your employee’s financial future.
- We are committed to working with you to help raise employee awareness and participation.
If this is something you might be interested in as an employee or an employer please get in touch via email for more information - firstname.lastname@example.org
Contact us for more details.
Employers already using our employer payroll deduction:
Renfrewshire Council Renfrewshire Citizens Advice Bureau
Linstone Housing Associaton