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Savings Payroll partner

Payroll partner

If you work for one of our payroll partners then you can join the credit union, choose how much to save, and have the payments paid directly from your salary to your chosen account(s), i.e. an Instant Access Savings account and/or a Christmas Savers account. We can even arrange part of the payment to go into a Junior Savings account if you want to save for children or grandchildren.

How it works:

  • Join the credit union first here and open a Regular Savings Account
  • Complete a Payroll Deduction form here or request one by email. Complete it and let us have it back. We will arrange with your employer for deductions to start as soon as possible
  • You can open additional accounts (a Christmas Saver and Junior Saver) if you want to split your savings payment
  • Eligible for annual dividend
  • Save up to £20,000, or £40,000 in a joint account (note this is across all your Somerset Savings and Loans accounts)

Withdrawing your money:

  • Savings from an Instant Access Savings Account can be transferred on the same day to your nominated bank account if you contact us by 11am (the next day if you contact us after 11am)

  • We can offer a pre-paid Visa card onto which your savings are loaded if you prefer not to have them paid into your bank account

Our current payroll partner organisations:

  • Alliance Homes
  • Knightstone Housing Association
  • Bath & North East Somerset Council
  • North Somerset Council
  • Yarlington Homes
  • Taunton Deane Borough Council


Employers

If you are an employer and wish to start a Payroll Deduction Scheme to benefit your employees then please contact us. The process is straightforward to set-up and there are no charges to you or the member for the service.

Call us:
  • Tel.
  • 01275 390650
Opening Hours
  • Mon - Fri
  • 9.30am - 4.30pm
Visit us:
  • Thu
  • 9.30am - 12.30pm / 1.30pm - 4.30pm
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Somerset Savings & Loans is authorised by the Prudential Regulation Authority & regulated by the Financial Conduct Authority & the Prudential
Regulation Authority. FCA & PRA FRN: 230768