Welcome to Bolton's own Credit Union
Why not offer your staff payroll deduction to the Credit Union?
You’ll be in good company if you do. Bolton Metro, Bolton at Home, the Primary Care Trust, Citizens Advice Bureau, Manchester Methodist Housing Association and Bolton CVS all offer payroll deduction to their employees.
We work with many partners throughout the Borough so that our services can be accessed by as many people as possible. This includes working with employers, both large and small, for the benefit of their employees.
Why offer payroll deduction to staff?
Most of us take on debt at some stage in our lives, be it a mortgage, car loan, credit card or overdraft. Last year personal debt in the UK topped the one trillion pound mark. It is not just people who are unemployed or on benefits who have debt problems. For those in employment credit is very easy to access and many have overburdened themselves with debt.
By promoting a prudent approach to personal finance the employer can help reduce their employees’ money concerns.
Offering payroll deduction to staff can also be used by employers as an incentive when recruiting new staff.
Financial Problems and Debt can lead to
Credit Unions enable many people to break free from a cycle of debt, high interest lenders and loan sharks and regain control of their own finances.
People from a wide variety of social and income groups can, and do, benefit from credit union services.
Is it difficult to Administer?
No its easy – big companies – e.g. British Airways, GM Police, many local authorities do it
Small Companies can do it e.g. Citizens Advice Bureau, Manchester Methodist Housing Association, Bolton CVS
A schedule of deductions and access to internal information channels, for promotion of the credit union, are all we require.
One bacs transfer / cheque per payrun is all that is required
Any amendments/new subscribers must come through the credit union, minimising the disruption for the payroll office.
All forms will be sent to the payroll department at an agreed time via an agreed channel.
What’s in it for my company?
Why will the employees want it?
Current Sponsors
Employees of the following organisations who live or work in Bolton may pay into the credit union by payroll deduction
If you are interested in finding out more about how to provide this service to your employees, please contact our Office Manager Christine Peters on 01204 365024.
You’ll be in good company if you do. Bolton Metro, Bolton at Home, the Primary Care Trust, Citizens Advice Bureau, Manchester Methodist Housing Association and Bolton CVS all offer payroll deduction to their employees.
We work with many partners throughout the Borough so that our services can be accessed by as many people as possible. This includes working with employers, both large and small, for the benefit of their employees.
Why offer payroll deduction to staff?
Most of us take on debt at some stage in our lives, be it a mortgage, car loan, credit card or overdraft. Last year personal debt in the UK topped the one trillion pound mark. It is not just people who are unemployed or on benefits who have debt problems. For those in employment credit is very easy to access and many have overburdened themselves with debt.
By promoting a prudent approach to personal finance the employer can help reduce their employees’ money concerns.
Offering payroll deduction to staff can also be used by employers as an incentive when recruiting new staff.
Financial Problems and Debt can lead to
- Stress and related health problems
- Stress is one of the greatest causes of employee absenteeism
Credit Unions enable many people to break free from a cycle of debt, high interest lenders and loan sharks and regain control of their own finances.
People from a wide variety of social and income groups can, and do, benefit from credit union services.
Is it difficult to Administer?
What’s in it for my company?
- Provides a staff benefit at little cost
- Provides a way of helping employees manage their money
- Creates an emergency fund and reduces stress
- Keeps local money in the local economy
- Meets many companies’ community ethos
- Can help recruitment and retention of staff
- Provides a firm with good PR
- Free web link on the credit union’s website and positive publicity
Why will the employees want it?
- Easy way to save – payroll deductions mean out of sight, out of mind.
- As much or as little as can be afforded
- Organisation of money
- Low cost loans including life insurance
- Secret Savings
- A friendly and reliable customer service
Current Sponsors
Employees of the following organisations who live or work in Bolton may pay into the credit union by payroll deduction
- Bolton Metro Borough Council
- Bolton at Home
- Bolton College
- Bolton Citizens Advice Bureau
- Manchester Methodist Housing Association
- Primary Care Trust
- Bolton CVS
If you are interested in finding out more about how to provide this service to your employees, please contact our Office Manager Christine Peters on 01204 365024.