Payroll Deductions Savings

Who can apply?

Employees of the following organisations are able to use our payroll services. Not on the list? Ask your HR department to get signed up – it’s free of charge!

  • SMBC
  • NHS Stepping Hill
  • Stockport Homes
  • TLC
  • Borough Care
  • Nexperia
  • Seashell Trust
  • Care in Mind
  • Pure Innovation
  • Disability Stockport
  • Rowlinsons

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 that you can manage through our member area.
Xmas saver – designed to help you save for Christmas, by locking your savings until October.

Start saving in minutes with our NIVO app.

We have invested in a fantastic mobile banking app to ensure we are providing a fantastic service for our valued members. As well as being extremely secure, Nivo utilises Open Banking and other Fintech technologies to keep required paperwork to a minimum and make the application process as fast and straightforward as possible.

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. Tell us how much you want to save and your savings will be deducted directly from your salary before it even hits your bank account. You can amend the amount at any time and its easy to do a withdrawal through our online member area.

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.

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.