Debt has a major impact on mental welfare but it is the type of debt which has the biggest influence. Recent research conducted by the Royal Society for Public Health demonstrates that a payday loan has the highest negative impact on mental wellbeing whilst credit unions came out very positively, highlighting that they play an important role in offering affordable, fair credit to consumers.
Just Credit Union's payroll deduction scheme is a hassle-free way to encourage employees to save regularly that has no cost implications for the employer. Payroll saving is a staff benefit that can improve the financial wellbeing of your employees encouraging staff to save whilst also giving access to low cost affordable loans.
A valued staff benefit at no cost to employers
Contributes to corporate social responsibility activities
Reduces absenteeism and staff turnover that often results from financial stress
Helps recruit and retain staff
Keeps money in the local economy
Improves staff goodwill
Enables staff to better deal with financial emergencies keeping them mobile and productive
If you are an employer based in Shropshire or Telord and would like to know more abou payroll savings scheme email steve.barras@justcreditunion.org