Payroll Services for Employees

Manageable & Affordable Savings

Payroll Services for Employees                                                    

Join our Payroll Saving scheme – the smarter way to manage your money.

Payroll savings is a free service to employers and employees, allowing safe, manageable savings through your payslip. Savings are deducted at source and so you know exactly what you have to spend at the beginning of each month.

Saving a little every payday will soon add up to a tidy sum to meet sudden expenses or for that unforgettable event. By being a member of the FAIRshare Credit Union, you will gain all the benefits of membership, including access to loans with flexible and affordable repayments.

FAIRshare works with a number of employers, to give staff easy access to simple secure savings and affordable loans. If you are not sure if your employer is part of the FAIRshare Payroll Savings Scheme, please contact us to find out. If your employer is not signed up to this service, you can pass on our details and ask if it is something they may consider.

What is Payroll Saving?

  • Payroll saving is making regular savings directly from your salary. 
  • Your employer deducts the amount you wish to save direct from your wages via payroll, and transfers this to your FAIRshare savings account.
  • Saving direct from your salary is easy and you can save as little or as much as you wish, from just £1 a week or £5 a month.
  • Your money is transferred to your FAIRshare account and can be withdrawn at any time*
  • Your employer has no access to your FAIRshare account, balances or details.
  • Payroll saving is a staff benefit which your employer offers to you. * You must keep £5 in your account to keep it open

Why Join Payroll Saving?

  • There is NO cost to you or your employer.
  • Saving directly from your salary means putting some money aside before receiving your pay.
  • 20% Payroll Bonus Scheme on FAIRshare loans.
  • Saving money regularly helps protect you from unexpected financial pressures and helps you manage your money more effectively.
  • You can save as much as you want.
  • If you need to borrow money, FAIRshare offers low-cost loans to members – you can apply for a loan, and the repayments can be deducted from your payroll savings.
  • Your money is safe and protected by the Financial Conduct Authority & the Prudential Regulation Authority, unlike staff ‘kitties’ or informal savings schemes.
  • Savings are covered by the Financial Services Compensation Scheme, currently to the value of £85,000.

If your employer offers the FAIRshare Payroll Savings Scheme, you can complete the Payroll Saving Deduction Order.

You do have to become a member to enjoy all the benefits of FAIRshare Credit Union including the Payroll Savings Scheme. Join us today and and become one of our valued members across Shropshire, Telford & Wrekin and South Staffordshire.

FAIRshare is a not-for-profit community bank which has served the county for over 27 years. Read the Frequently Asked Questions to find out more about the benefits of belonging to a Credit Union.

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Some of our Partners already enjoying the benefits of Employee Payroll Savings…

telford wrekin council

We’d love to hear from you.

Do you have a question about FAIRshare services? Our team is ready to answer all your questions.