Credit Union Salary Deduction
Support your staff to build savings and borrow affordably Why Credit UnionsFinancial well-being as an employee benefit, in partnership with your local credit union.
Encouraging Saving
Make salary-deducted savings accounts available to your staff as a free employee benefit—a proven way to boost financial well-being.
Staff Loans
Provide your employees with good-value and trustworthy options for both planned and emergency borrowing.
Financial Education
Through workshops and site visits, a credit union can be your partner in providing informal tips and financial education for staff.
Community & ESR
Credit unions are member-owned and not-for-profit, and partnering with one supports their wider work in your local community.
Trusted
Credit unions have been partnering with employers to offer staff financial benefits for decades.
Secure
All UK credit unions are regulated by the FCA and the PRA, and deposits up to £85,000 are covered by the FSCS
Ethical
As not-for-profit and member-owned institutions, a credit union can be trusted to do right by your staff.
struggle and get in even more debt. So, I thought if I could join a credit union and
thought if I put something away every month. Because, it goes straight out of your wages.”
Rachel, York NHS Employee
Supported by Research
Independent research supported by the Money Advice Service shows that credit union salary deduction schemes are effective in supporting staff to save regularly, as well as providing an ethical alternative to high-cost borrowing.
850 Employers across the UK
Some of the UK’s largest public and private sector employers offer salary deduction schemes in partnership with credit unions. This includes local authorities, NHS Trusts and the UK armed forces.
69%
Of employees participating in a salary deduction scheme report saving regularly, compared to 44% among non-members
Simple to set up, low-cost to run
Whether you are a team of 10 or 10,000, setting up a workplace salary deduction scheme is straightforward, with no ongoing costs or risky IT.
Trusted by businesses, SMEs and major public sector employers
Credit unions are trusted by some of the UK’s largest employers to provide financial employee benefits to their staff, and in many cases have had schemes in place for decades. The list includes government departments, NHS Trusts, local authorities and major household brands.
Andrea Leadsom MP
Former Economic secretary to the Treasury
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