Partnering local companies & their staff
Putting people
before profit
www.fairshare.uk.com @FAIRshare_CU
A safe and secure home for your savings
Low cost affordable loans for FAIRshare members
FAIRshare partners numerous local companies, allowing staff to make regular payments to their FAIRshare account direct from their salary - the easy way to save & repay loans.
Payroll Saving
Do you want to enhance your employees’ benefit package?
an employee benefit
Contributes to corporate
social responsibility
Provides employees
with a regular savings
plan & affordable loans
No charges & minimal
administrative burden
Helping people save for a better future
FAIRSHARE CREDIT UNION IS AUTHORISED BY THE PRUDENTIAL REGULATION AUTHORITY AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY AND THE PRUDENTIAL REGULATION AUTHORITY. OUR MEMBERS’ MONEY IS ALSO PROTECTED BY THE FINANCIAL SERVICES COMPENSATION SCHEME (FSCS).
Call 01952 200200 or visit www.fairshare.uk.com for more information
Telford Branch & Head Office
Unit 3 Southwater Square, Southwater Way, Telford TF3 4JG
Tel : 01952 200200
FAIRshare Credit Union is a friendly not-for-profit ‘community bank’ offering
secure savings & affordable loans to members. Regulated like any bank or
building society, FAIRshare is the local alternative for ethical savings & low cost
loans for everyone who works , lives or studies in Shropshire.
Support from the Payroll Industry
In January 2014 the Chartered Institute of Payroll Professionals (CIPP) announced that many UK payroll outsourcers have agreed not to charge processing fees for credit union loan repayments.
Chief executive of CIPP, Lindsay Melvin said: “Our hope is that all employers and payroll providers will collectively support employees in managing their debt by not charging for processing credit union loans through payroll. It would be good if employers were proactive in communicating to staff the advantages of going to a credit union as a viable alternative to a payday loan provider, with a valuable advantage of having a free mechanism to repay their loans and saving to cope with emergencies.”
The CIPP found delinquency rate on loans repaid through the payroll is less than 1% compared to other loan methods where it is nearer 8%. According to the CIPP payroll has so much to offer to assist their organisation with their financial and human capital strategies.
Why offer Payroll Saving to your employees?
Payroll Saving is a valued staff benefit which can help recruitment & retention of staff
Research has shown that employees suffering financial difficulties are more likely to suffer from stress, depression, absenteeism & underperformance
Providing an easy way to save helps employees get a saving habit & manage their money, reducing stress & contributing to a happier & more productive workforce
Encouraging a responsible attitude towards credit & providing access to affordable loans assists with the welfare aspects of being a caring employer
Keeps local money in the local economy and so benefits the local community
Meets many companies’ community ethos & corporate social responsibilities
Easy to administer with no cost to the employer - just a small administrative role when processing the payroll & transferring funds by BACS to FAIRshare.
Help, support & resources to set up Payroll Saving & promote to your employees, and ongoing support as required
Town centre branches in Telford & Shrewsbury, member services telephone support available 6 days/week, all providing friendly, local support to you & your employees
Government Support - The Economic Secretary to the Treasury, Andrea Leadsom, has encouraged employers & voluntary sector organisations to engage with credit unions to help them provide affordable credit and responsible financial services in their communities. August 2014
Shrewsbury Branch
17a Castle Gates, Shrewsbury SY1 2AB
Tel : 01743 240403