Offering credit union membership to your employees via payroll deduction is an easy way to support financial wellbeing. Credit union membership offers a convenient way to start a savings habit and access to affordable credit if needed.
It’s completely free to become a payroll partner and setting up payroll deduction with us for your employees is a simple process. Contributions are a post-tax deduction making administration straightforward. Credit union membership is also free for your employees.
Current Payroll Partners include:
Discover the benefits of a payroll partnership for your organisation and employees:
How joining the credit union can help your employees:
The Money Advice Service found that over 16 million people across the UK have savings of less than £100. People with little or no savings are more likely to take out a high-interest loan or credit card and be vulnerable to payday lenders or loan sharks. Reports show that money worries can cause higher stress and anxiety levels, lower staff productivity, poorer job performance, and increase stress-related absence.
Joining The Co-op Credit Union gives access to ethical, affordable borrowing, encourages saving, and boosts financial resilience. A payroll partnership with us is a meaningful and impactful addition to your corporate responsibility and wellbeing programmes.
We recently conducted an analysis of our impact on the financial wellbeing of our members by reducing the cost of credit and building savings habits. Download a copy of ‘Measuring our Impact’ to find out more.