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Tel: 01837 658123

26 May 2017
Payroll Deduction Scheme

Employers are able to help their employee to save by becoming one of Plough & Share's Select Employer Partners


Stress free employees in three easy steps:


1. Employees elect the amount they want to save


2. Payroll deduct & send to Plough & Share


3. We it allocate to the employee’s savings account.




The benefits to the employer include: 

  • Positioning the service as an employee benefit
  • Helping employees to save can reduce stress and sickness levels caused by debt 
  • It may help to reduce requests for pay advances 
  • Knowledge that the credit union is a mutual and ethical financial services organisation
  • As the credit union is Devon based this helps to retain and circulate money in the local Devon economy 
  • Employees also have access to the low cost loans provided by Plough & Share and this helps employees avoid high-interest loan companies and money shops which create unaffordable debt


The benefits to employees include: 

  • It’s a ‘painless’ way to save; it’s often easier for employees to put some money aside before receiving their pay 
  • Employees can save as much as they want 
  • Savings can be withdrawn at any time 
  • Employees will have special access to low cost credit union loans 
  • Access to other services by Plough & Share
  • Employees savings are safe too as they are covered by the Government’s compensation scheme


Join other Select Employer Partners


Devon County Council   |   Teign Housing   |   North Devon Homes   |   Teignbridge District Council


Talk to us about setting up a Payroll Deduction Scheme in your workplace today

01837 658 123

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