Payroll Deduction Saving

Payroll Deduction Saving                                  

A number of local employers offer their staff, who are members of HertSavers Credit Union, the facility to make payments to us directly from their pay. This is a great way to save, and a pain-free way to make loan repayments, as the money is deducted from their pay before it reaches their bank account.

How does it work?

When you join the credit union - and if your employer offers this service - you should complete a Payroll Deduction Form. We record details from the form and send it on to your payroll department. Every week or month, depending on how you are paid, the payroll department sends us a list of all deductions made and the total payment arrives in our bank a few days later. Once we have received the payment we post each amount directly to member accounts to cover any saving or loan commitments. If you want to change the amount, just complete a Payroll Amendment Form and we will make the necessary changes with your payroll department.

How do I know if my employer offers this facility?

At present, employees of the following organisations may take advantage of our payroll deduction facility:

• Broxbourne Housing Association 
• East Herts District Council
• Broxbourne Borough Council 

If you are unsure whether your organisation is included please contact us. 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. 

I am an Employer interested in offering this to my staff