Enterprise Credit Union

Tel: 0151 482 0177 | 22 April 2016

Save as You Earn

We are now providing payroll deduction through a number of local employers. These companies all offer their staff the ability to have money deducted straight from their salary in to their Credit Union account. KMBC, KHT, Knowsley Community College, St Helens MBC, Hope Centre, Magna and Warmer Energy are all now payroll partners of ECU.

How does it work?

When you join the credit union you should complete a payroll deduction form which is then sent to your payroll department. Every month the payroll department sends us a list of all deductions made and the total payment arrives in our bank generally a few days later. Once we have received the payment we post amounts directly to member accounts to cover any savings or loan commitments. This process is handled on behalf of the members by the Credit Union staff and the payroll departments and is done in the strictest confidence. Payroll personnel only know the amount of the deduction and nothing else, and no information regarding loans or any other deduction is shared. If you want to change the amount, just complete a Payroll Amendment Form and we will make the necessary changes with your payroll department. Enterprise Credit Union would like to offer this facility to all employees so If your employer hasn't signed up yet, why not ask them to contact us and we can arrange to talk through the benefits of this service.
Download Payroll Application (554.8kb) or these payroll applications are also available on line: Click to join online

Starter Loans for Payroll Members

Payroll Starter loans up to £500 are now available. If you wish to apply for a loan please complete the form below and return via e-mail to contact@enterprisecreditunion.org or drop in to your nearest branch.
Download LOAN APPLICATION (139kb)

Employers are able to help their Employees to save by becoming one of Enterprise Credit Unions Select Employer partners.

Employees elect the amount they want to save; the HR or Payroll department deduct the nominated amount and send it to the credit union where it is allocated to the employee’s savings account.

The benefits to the employer include:

  • Positioning the service as an employee benefit
  • Helping employees to save can reduces stress and sickness levels caused by debt
  • It may help to reduce requests for pay advances
  • Knowledge that the credit union is a mutual and ethical financial services organisation
  • As the credit union is Knowsley based this helps to retain and circulate money in the Knowsley economy
  • There are no charges made to the employer by the credit union.
  • Employees also have access to the low cost loans provided by the credit union and this helps employees avoid the new breed of pay day loan companies and money shops that again reduces the risk of debt.

The benefits to employees include:

  • It’s a ‘painless’ way to save; it’s often easier for employees to put some money aside before receiving their pay
  • Employees can save as much as they want
  • Savings can be withdrawn at any time*
  • Employees will have special access to low cost credit union Loans
  • And other offers and services from the credit union.
  • Employees savings are safe too as they are covered by the Governments compensation scheme

We can also arrange to talk to your staff to promote the benefits of saving with the Credit Union. This is an excellent benefit to offer your staff, encouraging them to save regularly.

Enterprise Credit Union is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority. Firm Reference Number (FRN) is 213291.

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