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Save as you Earn

We offer payroll deduction through a number of local employers. These companies all offer their staff the ability to have money deducted straight from their salary and have it paid directly in to their Credit Union account. KMBC, KHT, St Helens Community College, St Helens MBC, Hope Centre, Magna and Warmer Energy are all now payroll partners of ECU.

 

How does it work?

When you join the credit union you should select that you wish to pay into your account via payroll deduction. We will then make an instruction of your request to your payroll department. If you want to change the amount, just complete a Payroll Amendment Form and we will make the necessary changes with your payroll department. Enterprise Credit Union would like to offer this facility to all employees so If your employer hasn’t signed up yet, why not ask them to contact us and we can arrange to talk through the benefits of this service.

Starter Loans for Payroll Members

Payroll Starter loans up to £1000 are now available. If you wish to apply for a loan please complete our join & borrow section
Employers are able to help their Employees to save by becoming one of Enterprise Credit Unions Select Employer partners.
Employees elect the amount they want to save; the HR or Payroll department deduct the nominated amount and send it to the credit union where it is allocated to the employee’s savings account.

The benefits to the employer include:

  • Positioning the service as an employee benefit
  • Helping employees to save can reduces stress and sickness levels caused by debt
  • It may help to reduce requests for pay advances
  • Knowledge that the credit union is a mutual and ethical financial services organisation
  • Being local helps to retain and circulate money in the local economy
  • There are no charges made to the employer by the credit union. Employees also have access to the low-cost loans provided by the credit union and this helps employees avoid the new breed of pay day loan companies and money shops that again reduces of getting into financial difficulty as a result of very high interest rates

The benefits to employees include:

  • It’s a ‘painless’ way to save; it’s often easier for employees to put some money aside before receiving their pay
  • Employees can save as much as they want
  • Savings can be withdrawn at any time
  • Employees will have access to low cost credit union Loans
  • And other offers and services from the credit union.
    Employees savings are safe too as they are covered by the Financial Services Compensation Scheme
  • We can also arrange to talk to your staff to promote the benefits of saving with the Credit Union. This is an excellent benefit to offer your staff, encouraging them to save regularly.