Manor Royal Business Improvement District (BID)
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Manor Royal employee savings scheme


What is Manor Royal Savers?

In partnership with the BOOM! Credit Union, Manor Royal Savers is a Save As You Earn (SAYE) scheme to encourage employees to save regularly direct from their pay. It provides an ethical form of saving and access to affordable credit and more.

What are the benefits?

For employers:

• A hassle-free employee benefit, facilitated by the Credit Union.
• A dedicated webpage for your organisation on the Boom website, with Manor Royal and your organisations branding, for staff to enrol on the scheme.
• Protecting staff at risk of falling into financial difficulties and helping them to avoid high-interest payday lenders.
• Helps to avoid salary advance requests.

For employees:

• Ethical saving option with a regulated and trusted not-for-profit organisation.
• Secure and accessible savings that are 100% protected by the FSCS.
• Credit Union Membership with online account management.
• Access to reduced interest rates on loans repaid through the SAYE scheme.
• The health benefits associated with financial wellbeing.

How does it work?

The employee signs up on line (or on paper). Once the deduction is confirmed in writing, the Credit Union sends deduction details to the company each month. When the payroll is run the company sends a single BACS payment to the Credit Union who allocate the sums to each account.

How do I find out more?

Contact: graham.mayes@boomcu.com or saye@boomcu.com

Or call: 01903 228 493

 

 

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