What if you could improve employee attendence, retention, engagment and happiness? Partner with Derbyshire Community Bank and we will work with you to support your people to save regularly, borrow affordably and learn how to manage their money well. 

Payroll Deduction for Employers Payroll Deduction for Employees Business Saver

Derbyshire Community Bank is on a mission to enable everyone in Derbyshire and Derby city to manage their money well. As an employer, there are a few things you can do to improve the financial wellbeing of your people. Our services are free to the employer and employees.  

Why this is important 

26% of UK adults have little or no savings. This means that when an unexpected bill arrives or a family crisis occurs, some households have to borrow, sometimes from high cost lenders.  

Personal debt can cause anxiety and depression, when staff are preoccupied by money worries they are not focusing on their work and performance can suffer.

Credit unions encourage regular savings and provide affordable, ethical loans. Working with your local credit union can help your employees build up savings giving them financial flexibility and the option to borrow affordably when they need it. We recommend our Members save £12 or £40 monthly; not too much, but sufficient to build savings.

Derbyshire Community Bank has been providing simple savings and affordable loans for more than 20 years.  

Working in partnership with DCBank, employers can promote good financial health for employees. Here are three things you can do: Promote DCBank to your employees, set up a Payroll Deduction Scheme, open a Business Saver account. 

Promote DCBank to employees 

What if you could help your employees with little effort and no cost to your business? 

It is easy to promote credit union savings and loans. Three simple ways: 

1. Just download a poster and share with staff or pin to noticeboards 
2. Provide a link to our website on payslips or internal communications. 
3. Talk to us about further marketing materials, articles for staff newsletters or provide a presentation to employees. 

Boosting financial capability by encouraging regular saving and affordable borrowing is not only good for employee wellbeing, it is also good for your business.

The next step is Payroll Deduction; offering credit union savings and loans as part of your employee benefits package and a feature of your Corporate Social Responsibility (CSR). 

Payroll Deduction  

Offering Payroll Deduction with Derbyshire Community Bank as an employee benefit works for you as the employer, and is a valuable service for your employees.  

1. Your employees decide how much to save  
2. this is deducted from their pay packet 
3. And credited to their account with DCBank 

Employers offering payroll saving to their employees have the reassurance that their people are taking responsibility for their money; they are putting some money aside for when they need it, and they have access to the affordable loans from Derbyshire Community Bank when they need it. 

We do not charge employers for this service and many payroll outsourcers do not charge their customers for the processing of credit union loan repayments, so the cost to employers of offering Payroll Deduction is no more than a small amount of admin each month. 

Find out more  

Business Saver 

Want to do more? Open a Business Saver account, deposit up to £20,000 and we will invest your savings back into our community enabling us to increase our social impact; part of your Corporate Social Responsibility (CSR).  

Your money is safe. FSCS protection applies for most businesses. Find out more on the FSCS website. 

We lend from £300 to £7,500, we are very careful to ensure loans are affordable and improve the borrower’s situation and not create a burden for them. Many of our borrowers have limited financial options and borrowing from us is affordable, improves their credit history and best of all, our borrowers also save at least £12/month alongside their loan repayment – a simple way to help them build financial resilience, learn good money habits and plan for a positive future. 

We pay a dividend on savings, however this is not guaranteed. 2% paid in 2024. 

About Us 

Erewash Credit Union Ltd t/as Derbyshire Community Bank is for everyone who lives or works in Derbyshire or Derby city. We are a financial co-operative, owned and run by our Members. Our purpose is to enable people in our community to flourish. Erewash Credit Union Ltd is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered number 432447. Registered Company No. IP00730C on the Mutuals Register.