How to become a Credit Unions of Wales Payroll Partner

Setting up a payroll saving scheme with Moneyworks Wales couldn’t be easier.

By joining the growing band of more than 150 Moneyworks Wales employer partners in Wales you will be helping your staff improve their financial wellbeing.

The service is free to employers and designed to avoid onerous administrative demands.

To help staff understand the scheme, the Moneyworks Wales team can arrange a presentation at a management meeting, at a staff meeting, an online Zoom or Teams call or simply putting up a stand and handing out leaflets at the place of work.

If an employee decides to join the Moneyworks Wales scheme, they can do so online,   and decide on the amount to be moved from their salary and placed into a savings account, or make a loan application.

Moneyworks Wales payroll members save as little or as much as they want to from their salary. This can be for something specific like a holiday or a new car, or maybe simply because they want savings behind them for an unexpected emergency.

As credit unions are member-owned, savers can receive an annual dividend if there is a profit at year end, once all of the expenses are paid.

Employees can arrange withdrawals over the phone, via email, by visiting the credit union office, or through the online portal at any time.

Staff have peace of mind that their employer will not know if the deduction is for savings or a loan repayment.

The Moneyworks Wales payroll saving scheme is a hassle-free method that helps staff put aside some of their hard-earned money before having chance to miss it!

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