Payroll Deductions Savings

What is the importance of saving?

Here at Stockport Credit Union, we know the importance of saving. We understand the effect it can have on your emotional and physical well-being. So we’ve created a range of Payroll Savings Accounts to suit our members’ needs including:

Share one account – an instant access account
Xmas saver – designed to help you save for Christmas, by locking your savings until October

By creating a savings plan you can work towards financial independence, and relieve the pressure on you and your family when the unexpected happens.

How do Payroll Deduction Savings work?

We work with employers across the Stockport region, if your employer is already a partner it means that setting up your new Savings account is as easy as completing our new member form. Your savings will be deducted directly from your salary.

If your employer is not listed, why not send them the link to find out more about our Payroll Deduction Scheme.

What are the Payroll Deduction benefits?

As a community financial co-operative, we offer an annual dividend on our members’ savings instead of a standard interest rate. Last financial year (2018/2019) our rate was 0.8% (which is more than comparable to other instant access accounts).

Our business model works towards supporting our community members, so by saving with us you are working towards your community’s success.

What happens if I stop working for my employer?

If you change jobs you can still continue to pay into your Stockport Credit Union Savings Account by setting up a standing order. Just contact us on mail@stockportcu.com and we can help you with this.

How can I access my Payroll Savings?

All you need to do to access your payroll savings is contact us on 0161 430 5808 or email mail@stockportcu.com and we will deposit your money into your nominated account by 6 pm the new working day.

Are my Payroll Savings protected?

Any money saved with Stockport Credit Union is fully protected by the Financial Services Compensation Scheme (FSCS). Your money is as safe with us as it would be in a high street bank or building society.

Start saving in 2 easy steps

Apply to be a member

Tell us how much you want to save