Manor Royal Business Improvement District (BID)
Skip to: navigation | content

Manor Royal Success Movie

Projects

Bid Renewal

Events

Events

News

News

Partners & Benefits

Benefits

Promotions & Offers

Offers

Manor Royal Savers

What is a Credit Union?

  • A financial model created in the 1850s-a Credit Union is a financial co-operative, owned and controlled by its members. controlled by its members.
  • Regulated by the Financial Conduct Authority and the Prudential Regulation Authority
  • Guaranteed by the Financial Services Compensation Scheme
  • There are 40,258 credit unions in 79 countries around
  • There are 40,258 credit unions in 79 countries around the world, enabling 118 million members to access affordable financial services.

West Sussex Credit Union

  •  Established October 2008
  • 3500 members 
  • £1 million in individual savings
  • £2.3 million lent out
  • Estimated savings to local economy: £6.5million
  • 100% of borrowers also save • 100% of borrowers also save

People and places

  • Head office based in Worthing
  • Satellite office at Crawley Town Hall 
  • All services accessible via website
  • Account management via secure pin web access
  • Telephone access Monday-Friday 9 am to 5 pm
  • 4 staff–Ahad, Bridget,Martynand Sue
  • 7 Directors, 2 Supervisory Committee

Partnership Organisations

  • Western Sussex NHS Foundation Trust
  • West Sussex County Council
  • Adur, Worthing, Arun, Chichester and Mid Sussex District Councils
  • Guild Care
  • Goodwood Estate
  • Southern Housing Group
  • World of Books
  • Chichester College
  • Worthing Homes
  • Manor Royal Business Park
  • Age UK West Sussex

How does it work?

  • Employee signs up online or on a paper application form (needs NI no and payroll no)
  • WSCU writes to employee to confirm deduction
  • Once a month WSCU sends an updated spread sheet to company detailing deductions
  • When payroll is run, the company sends a single BACS payment to WSCU
  • WSCU allocates sums to accounts

SAYE Features

  • No need for employee to prove ID
  • Dividend payments comparable to high street interest
  • Account not linked to employer, so no problems if a saver leaves.
  • Goes to not-for-profit local organisation
  • Savings 100% safe through the FSCS
  • Account can be viewed online and withdrawals authorised to a nominated bank account or by a posted cheque.
  • Savers have benefit from reduced interest rates for loan applications applications
  • Helps employees to improve their financial wellbeing.
  • Discount shopping and low cost health care plans available

Lending Features

  • Reduces pressure on HR and payroll staff to give salary advances.
  • The credit union can help where mainstream banks have refused credit applications.  (Loans up to £10,000 are available)
  • Payments from salary-helping money management
  • Borrowers at WSCU save as they repay the loan into an associated accountso that when the loan is paid, the borrower has built upanest egg for the future
  • No penalties for early repayment
  • No fees or charges for taking out the loan
  • Loans are based on whether the customer can afford it, not to meet organisation‘targets’.
  • No pressure selling of other financial products, such as insurance.

Additional Employee Benefits through Manor Royal Savers through BHSF Group Limited

Discounts on High Street Brands for Manor Royal Savers

  • BHSF’s online discounts site, Network Benefits, allows you to save money on your day-to-day costs, with hundreds of discounts and special offers at your favourite high-street stores
  • Browse offers across ten handy categories, from travel to DIY, fashion to grocery shopping, and save your favourite offers to review again and again

Save money towards your everyday healthcare costs with BHSF plans

Saving with Manor Royal Savers gives staff access to low cost health care plans from BHSF

Employees can claim cash back towards everyday healthcare costs such as:

  • Eyesight tests, contact lenses and new glasses.
  • Regular dental check-ups and treatments

To claim cash back–simply send the receipt to BHSF with a completed claim form, reimbursement To claim cash back–simply send the receipt to BHSF with a completed claim form, reimbursement made directly to your bank account in 3-5 working days.

BHSF–promoting good health since 1873

  • Established in 1873 as the Birmingham Hospital Saturday Fund, BHSF has been helping people with the cost of their everyday healthcare for 140 years
  • Now, BHSF insures 400,000 people through 230,000 policies
  • Careplans from BHSF is a not-for-profit provider of health cash plans and employee benefits solutions

More information

www.westsussexcreditunion.co.uk

01903237221 / 01903 210172

enquiries@westsussexcreditunion.co.uk

 

Follow on
View on
RSS Feed
Training delivered on your doorstep
Significant savings on short training courses thanks to Manor Royal BID