Offer Your Employees Financial Peace of Mind Through Payroll Deductions
Payroll services offer employees a secure way to save and access affordable loans directly through their pay. This can reduce financial stress, boost workplace productivity, and support their overall well-being — at no cost or risk to you. With ESLCU, integration is simple. We ensure an efficient, mutually beneficial financial solution for businesses and their teams.
No Cost or Risk
Our service integrates easily with payroll systems, meaning this employee benefit scheme incurs no cost or financial risk to employers.
Improve Your Staff Wellbeing
By offering your employees a secure way to save and access affordable loans directly through their pay, you can reduce their financial stress. This can lead to better productivity and increased job satisfaction.
Seamless Integration
Because of our smooth integration process, we can ensure a hassle-free setup with no confusion or adjustment period.
In-Depth Knowledge & Support
We can offer and participate in various events and benefit days throughout the year, helping your employees understand their money better and achieve their financial goals.
Financial Wellbeing Portal
Our credit union members and payroll partners can access our Financial Wellbeing Portal whenever and wherever they are. This means financial support is always available.
FCA Regulated & FSCS Protected
We are regulated by the Financial Conduct Authority and every deposit up to £85,000 is protected by the FSCS.
We’re an ethical credit union. This means our employee benefit scheme focuses on providing employees with easy access to affordable loans, savings opportunities, and financial education, all through payroll deductions. Our approach is simple, secure, and fully compliant, ensuring both employers and employees can benefit without complications.
We are the largest Credit Union in the East of England, partnering with local employers to provide affordable loans directly from employee salaries. Our service comes at no cost to employers.
We are a regulated financial cooperative. This means our profits are shared with customers. Credit Unions, established in the UK in 1964, include both profession-based (e.g., BAE, NHS) and geographically-based organisations like ours. You can explore other Credit Unions at the Association of British Credit Unions (ABCUL) website.
Employers face no risk, as we’re fully regulated by the FCA and PRA, managing all loan processes. All deposits are FSCS-protected, and our processes are endorsed by the Chartered Institute of Payroll.
Our loan interest rates are designed to offer an ethical alternative to banks, credit cards, and payday lenders. Part of the way we give back our profit to our members is by offering reduced interest rates on loans. Under the Credit Union Act 2012, the maximum interest rate we can charge is 3% per month, ensuring that rates won’t increase in the future.
We can offer a Credit Union savings accounts to all your employees and volunteers. To qualify for a loan, employees must meet the following criteria:
As an ethical Credit Union, we focus on the well-being of our members, not profit. We help employees break the debt cycle by enabling savings alongside loan repayments. All loans undergo affordability checks to ensure they’re in the best interest of members.
We’re here to support our members. This means we don’t use debt-chasing companies or charge late repayment fees. Our goal is to support members by adapting repayment plans and freezing interest when needed.
Our process integrates seamlessly with your payroll system. The Chartered Institute of Payroll has approved our process, and we only need a simple spreadsheet to handle deductions each month. Changes occur infrequently, typically when more employees sign up.
Employees benefit from access to affordable loans, savings options, and financial education through the ESLCU scheme. The employee benefit scheme offers an easy way to save directly from their pay and promotes financial wellbeing.
Help build a secure financial future for your workforce today
