Payroll Deduction Scheme

Payroll

Payroll Deduction Scheme

Scheme information

Payroll membership enables partner organisations to help their employees save and provide access to ethical affordable loans

Employees simply specify the amount they wish to save and this is deducted from their salary via payroll and transferred directly into their credit union share account. If the employee wishes to apply for a loan the repayment amount is made in the same way, via payroll. All services are managed directly by Eastern Savings & Loans and we accept full liability for the operation of the scheme, providing employers with a fantastic staff benefit at no cost.

  • Easy access savings for employees
  • Become part of a financial co-operative supporting and reinvesting in your local community
  • Affordable and flexible loans when people need it most
  • Employees receive free life and loan insurance cover (subject to terms and conditions)