If you haven’t considered becoming a Northern Community Bank Payroll Plus partner – now could be the perfect time.
AllScope Projects and Eden Housing Association are the latest businesses to sign up to our payroll savings scheme, joining a long list of organisations that includes Calico, Burnley Council, Pendle Council, Allerdale Council, Castles & Coasts, Pendle Leisure Trust, and VEKA.
What is Payroll Plus?
Payroll Plus allows employees to make regular payments into their community bank account straight from their wage.
It’s completely free for employers to become a payroll partner. Setting up payroll deduction with us for your employees could not be simpler:
- Campaign created by Northern Community Bank to maximise employee take up.
- Arrange the deductions (weekly or monthly) through your payroll department – we do the rest.
- It is put onto the payroll system as a deduction. Then sent to us where we credit the employee’s individual account.
- We are on hand at all times to ensure your scheme is running smoothly.
Contributions are made post-tax, and there are no set-up fees or comebacks for you as the employer.
How else can employees benefit from the Payroll Plus scheme?
Most importantly, you are helping to support the financial wellbeing of your employees. The Payroll Plus scheme creates saving habits that will help them meet any sudden expenses. It can help protect them from debt and financial problems, and it also comes with free community bank membership.
This also gives employees access to simple, flexible and affordable loans. This lessens the exposure to expensive credit cards, loan sharks, high-cost lenders and payday loans.
As a not-for-profit financial co-operative, we have no external shareholders to satisfy. Any profit made by the community bank goes back to the account holders in the form of a dividend.
Account holders can manage their accounts via the online accounts area, our secure mobile app, or through telephone banking five days a week. Employees who recently joined the Payroll Plus scheme have been extremely impressed by the new Northern Community Bank app, remarking how easy it is to open and deposit into their community bank account.
On top of this, there are also a variety of savings accounts that are all free to open, including the highly popular Christmas Club – where more than £525,000 was saved last year by 2,210 members, totalling an average of £237 per account holder.
If you’d like to find out more about the benefits of becoming a Northern Community Bank payroll partner, please get in touch today.
