The Coronavirus pandemic has brought into sharp focus the financial vulnerability of those who have little or no savings. There has never been a more important time to improve the financial wellbeing of your employees than now, and Welsh Government is asking employers to help by partnering with a credit union to offer work based payroll savings and access to affordable credit.
Payroll savings schemes are simple to set up, are free of charge, and are a really effective way to build a financial safety net, helping people to better cope with short-term financial shocks and reducing worries and anxieties about money.
In Wales there are 16 credit unions offering payroll savings, all of whom also offer a range of affordable and responsible lending products and savings, accessed through their offices and online.
Welsh Government has supported credit unions for many years and there are now over 140 organisations across Wales offering payroll savings for their employees.
If you would like to sign up to offer worked based savings, please contact your local credit union using this link, or email enquiries@creditunionsofwales.co.uk.
First published
14 July 2021
Last updated
07 March 2024