Payroll Deduction Scheme

- Employees Information

An easy and simple way for you to save & borrow with your credit union.

How does it work?

Your payroll department will take an amount (usually a fixed amount) each month from your salary and deposit it into your credit union account. They won't know what the money will be used for (e.g. savings or loan repayment), just the total amount you want to transfer. 

What's in it for me?

-Free and easy to set up

-Access to low-interest, affordable loans

-Ethical saving products which offer instant access

-Convenient way to manage your money

-Support your local economy by saving with our co-operative

 

How do I know if my employer provides this service?

Check with us or your employer to see if they offer payroll savings. If your employer doesn't already on it why not ask your employer about implementing the service? It's completely free to set up and we'll be happy to offer guidance and support along the way. 

Your eligible deposits are protected up to a total of £85,000 by the Financial Service Compensation Scheme and UK Deposits Guarantee Scheme.

Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. FRN 213707

© 2015 First Choice Credit Union