Save time and money with our payroll savings.
Delivering on our mission to promote sound financial management and savings.
As a community bank, our purpose is based on our belief that everyone should have access to affordable financial products and services. Our primary objective is to promote sound financial management, by encouraging people to save rather than borrow, in order to help our members avoid debt if and when possible.
Why Choose Us?
Not only does the Money Matters payroll savings scheme help to improve the financial wellbeing of your employees, by making saving through payroll simple, but also by making it possible for your staff to save money on the cost of borrowing, as loans repaid through payroll benefit from cheaper interest rates. The payroll savings scheme can also be part of an employee’s plans to take out a loan from Money Matters Community Bank. Under this scenario, an employee’s monthly loan repayment amount, as well as their pre-determined savings amount, would be withheld at source and paid to Money Matters toward their loan and into their savings account. By automatically withholding both the loan payment and savings contribution at source, we are able to give your employee the best possible interest rate on their loan.
Benefits For The Employer
Take charge of your savings journey with our innovative scheme
Benefits to your Employees
Money Matters payroll savings scheme can help your employees by encouraging saving as a way of preventing over indebtedness. A study from the Royal College of Psychiatrists found that half of UK adults in problem debt are also living with mental ill-health. According to an April 2019 article on mentalhealth.org, much of debt-related anxiety can be due to a lack of support from creditors and from the individual’s surrounding family, friends and employers.