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Tel: 01604 250016 Email: admin@northamptoncu.co.uk

27 June 2017
Payroll Deductions

Payroll Deductions

For Employees

One of the most convenient ways to deposit money to your Credit Union account is by direct deduction from your payroll. The Credit Union offers this facility through a number of employers (see list below).

Saving through payroll deduction is easy as the money is sent to your Credit Union account before you are paid. That way, you don't miss the money so much and you'll find you build up a healthy savings balance over time! You can also repay loans through payroll deduction, meaning you have the peace of mind of not having to worry about remembering to make your payments by other means.

To set the facility up you simply need to complete a payroll mandate form and send this to us at:

Northamptonshire Credit Union, 4th Floor, Town Centre House, 7-8 Mercers Row, Northampton, NN1 2QL.

Click to DownloadDownload Payroll Mandate Form (157.6kb)

Once we have received the completed form, we will forward it to your employer and ask them to start making deductions from the next available paydate.

 

For Employers

Offering payroll deduction services is a great way of providing a staff benefit at no direct cost to you.

It is well known that financial worries are a major cause of stress, which is a major contributor to staff taking time off work. Providing staff with a safe and affordable way of managing their money can therefore help to reduce absenteeism.

All you need to do is make arrangements to deduct an agreed amount from participating employee's salaries and send the Credit Union a monthly summary of all the deductions made.

Download the attached guide to payroll deduction services to find out more, or call us on 01604 250016 to discuss setting up the facility for your company.

Click to DownloadDownload Payroll Deduction Service Guide (794.5kb)

 

Participating Employers

Northampton Borough Council; Northamptonshire County Council; Kettering Borough Council; Kettering General Hospital; Daventry District Council; Corby Borough Council; South Northamptonshire Council; Cherwell District Council; Cherwell Citizens Advice.

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Northamptonshire Credit Union Tel: 01604 250016 Email: admin@northamptoncu.co.uk Web: http://www.northamptonshirecu.co.uk
Northamptonshire Credit Union is authorised by the Prudential Regulation Authority & regulated by the Financial Conduct Authority & the Prudential Regulation Authority (FRN 213810)