Salford Credit Union welcomes Payroll members

If you work for one of our Supportive Employers Salford Credit Union can provide a safe and convenient way to save and borrow

We offer:

CONVENIENT PAYROLL SAVINGS

• Savings or loan repayments taken automatically from your wages on Payday
  • So you’re not tempted to spend it
  • And savings build up automatically
• Available savings can be sent electronically to your bank account
  • We don’t pay interest but when we make enough profit at the end of each year a dividend is paid to members

EXCLUSIVE PAYROLL LOANS

• Access to some of our most competitive loan rates
• No early repayment fees- you can repay the loan early if you can afford to
• Interest is charged on your outstanding balance so will decrease with your decreasing balance
• We can often help people who don’t have great credit scores

MEMBER FOCUSSED AND ETHICAL

• We encourage you to keep saving regularly even while repaying your loan-building up a nest egg
• A way for you to help yourself and your work colleagues and keep money in your local community by supporting your local financial co-op

Become a Payroll Member now

-You will need your National Insurance number and bank details.

• Check your employer is one of our Supporting Employers- see list of employers below
  
• If your application is successful we send you a Welcome Pack in the post and will also email you a Payroll Deduction form
• To get Payroll member benefits you must complete and return your Payroll deduction form
  • Provide your employee details and say how much you will save
• We contact your Employer and get your Credit Union payments set up
• The payments will start from the first available Pay Day. Your Payroll department cut off dates might mean first payment not in the first month.

Exclusive Payroll loans- lower rates than our standard loans

• You can apply for a Payroll loan NOW if you are employed by one of our Supporting Employers- if your loan is approved you will automatically become a member
• Check you can afford loan repayments by using our Budget Planner SCU Budget planner to check your income and outgoings
• Interest rates for Payroll loans are LOWER than our standard loans (conditions apply)
  • Loans of £500-£4999 at 19.9% APR
  • Loans of £5,000- £6999 at 12.68% APR
  • Loans of £7000-£10,000 at 7.5% APR

IF YOU WANT A PAYROLL LOAN BUT ARE NOT YET A MEMBER

ALREADY A CREDIT UNION PAYROLL MEMBER? GREAT!–

REPRESENTATIVE EXAMPLE: Borrow £2000 over 24 months at 19.9% APR. Pay £101.66 each month on the loan. Total interest £439.59- repay £2439.59

AND-because we are a credit union, we encourage you to save. By the time you’ve paid off your loan you would have also saved a very useful nest egg- you benefit twice!

Help yourself, your colleagues and your local community- choose Salford Credit Union for your Savings and Loans today!