Payroll Plus is a payroll deduction scheme that gives you easy access to credit union services. You can become a member, build your savings and find out more about our affordable loans. Deductions are transferred from your salary directly to your credit union account. You decide the amount.
The process is straight forward. Simply join online then download and complete the Payroll Plus application form (download here). Please return the form to us - you can email it to email@example.com.
Save for that rainy day or the finer things in life that you have been working towards. All credit union savings are protected by the Financial Services Compensation Scheme (FSCS) and also our own insurance cover (T&C's apply).
You will find our loans an attractive alternative with our low interest rates and no hidden fees.
We exist solely to serve the communities of South Manchester with financial services - 17 years and counting. Become part of something special.
We offer a free payroll scheme service. The only cost to employers is processing time within your payroll department and we work with you to keep this to a minimum.
Employee morale can be boosted through having easy access to credit union services. This can have a positive impact on wellbeing and promotes productivity as well as staff loyalty.
Enhance your social responsibility through forging stronger links with your local credit union. Supporting the ethical side of finance shows that you care.
Payroll Plus is a payroll deduction scheme where a set amount is taken from your monthly salary and put into your credit union account. You decide the amount you want to save and this can be adjusted when you want by getting in contact with a member of our team.
Yes. The only time someone will know about your credit union account is when you inform your manager that you want to take part in the Payroll Plus scheme. All loans and savings amounts are confidential between you and the credit union and all information is protected by the Data Protection Act.
There is a one off joining fee of £3 and no other annual fees or hidden charges.
All savings are protected by the Financial Services Compensation Scheme (FSCS). Credit unions also offer free life insurance and loan protection insurance (T&C’s apply).
You can access your account and arrange to withdraw your savings through our 24 hour website. Withdrawals arranged before 3:30pm on a working day will be processed by 6:00pm.
1.3 million people are members of credit unions in the UK alone, and millions more worldwide. All UK credit unions are authorised and regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). As with all banks and building societies, they require robust financial systems, training of staff, and internal/ external audit systems. Insurance policies protect member’s saving from fraud, theft and dishonesty. And with credit unions regulated in a similar way to banks and building societies, you money is protected by the Financial Services Compensation Scheme (FSCS).
The credit union provides comprehensive support, guiding the company through the launch, operating the scheme and dealing with all enquires. All the employer has to do is facilitate monthly deductions from salary, with a single monthly exchange of data and BACS funds transfer.
It’s a very low cost benefit. All services are provided to the business by the credit union without charge, so the cost of setting up deductions from payroll will be the only expense.
Major UK employers who already offer their staff a payroll deduction savings and loans scheme through a credit union include BAE Systems, Royal Mail, NHS, British Airways, Tata Group, Go-Ahead Group and Stagecoach. The CIPP actively promote credit unions.
Stress is the main cause of sickness absence across the UK. University of Nottingham reports that indebtedness is a principle cause of depression leading to mental illness. This scheme will enable staff to manage their money better, reducing the likelihood of debt. Most companies also aspire to enhance their corporate social responsibility profile and introducing our scheme is a simple, cost-free, low admin way to do so.