New payroll partnership with Council
14 Sep 16
City of Wolverhampton Council staff now have easy access to their local credit union thanks to a new payroll deduction partnership.
The council has joined forces with Wolverhampton City Credit Union (WCCU) to enable staff and elected members to benefit from ethical financial services directly via the council payroll.
Not only can council employees now make regular deposits to their savings accounts direct from their salary, but the credit union will also help them access low-interest loans which can be repaid in affordable instalments straight from their monthly pay.
Leader of Wolverhampton City Council Cllr Roger Lawrence (pictured on the left with WCCU Manager Matt Goulding) launched the new payroll deduction scheme at the credit union’s counter in the Civic Centre on 13 September, saying: “As a long-standing credit union member, I fully support the ethical values of Wolverhampton City Credit Union.
“At a time when more people than ever are experiencing stress from money worries, the credit union provides affordable, low-interest loans. By helping our employees to save directly from their salaries, the council is also helping to build financial resilience in the city.”
Founded nearly 15 years ago, Wolverhampton City Credit Union serves almost 8,000 members who live or work in the WV postcode areas of Wolverhampton and South Staffordshire.
Credit union manager Matt Goulding said that WCCU planned to broaden its membership through more payroll deduction schemes with local employers. “These schemes have been a big success in the UK, supported by such major employers as British Airways, BAE Systems and the NHS. We hope that more employers in the city will recognise the scheme’s value as an employee benefit that helps to reduce the money worries of the city’s workforce.”