Employee Salary Saving Scheme
M for Money Credit Union runs a salary saving scheme with a number of local employers. These include:
- Harrow Council
- Northwick Park Hospital
- Hillingdon Hospital
- Hillingdon Council
- Uxbridge College
- Slough Council
- Buckinghamshire Council
- Clinimed Securicare
- Paradigm Housing
- Frimley Park Hospital
Employees who can pay to their credit union account by saving from their payroll can apply for an introductory loan of up to £2000 repayable over up to 60 months.
Salary saving also makes saving easy through our range of savings accounts to help you budget for Christmas, Eid, Diwali, Jewish Festivals, holidays or any other special occasion.
Why should I join the Salary Saving Scheme?
Here are seven reasons why you need to join the scheme:
- You can save as you earn therefore you won’t be stressed about putting money aside every month as it’s done for your automatically.
- You get dividends on your savings.
- You don’t have to go through your bank there defaulting is reduced
- You can take an introductory loan as soon as you join the credit union
- You get preferential rates on loans.
- Through our new web app, you can get online access 24/7.
- Once you become a regular saver, you can start planning your future for example to get your dream holiday or towards getting a car.
How do I join the scheme as an employee?
Here is how you join the scheme:
Step 1: Complete the online form.
Step 2: Our admin team will be in touch with the payroll form which you will need to complete and return to us via admin@m4mcu.org.
Step 3: Once you’ve been set up, you won’t need to worry about anything as we will take care of the rest. You can now start saving as you earn.
Information for employers
If you would like to take advantage of this opportunity to save money by payroll deduction or would like to offer your employees access to secure savings accounts and low-cost loans, please contact us.