Better Business / Member profile

MONEY@WORK

By matt king, Wednesday Apr 29, 2020

MONEY@WORK is an employee benefit initiative from Bristol Credit Union that can help support financial wellbeing through affordable loans and savings deducted directly from salary.  With financial worries rated as one of the biggest causes of stress in the workplace today MONEY@WORK can help people feel more in control of their day to day finances.

Payday loans and mounting credit card debts are all-too-common, especially for young people, while many are not saving at all for those inevitable financial shocks.  Saving through payroll deduction is easy and lets employees build up a nest-egg directly from their salary.  Regular saving is one of the critical components of good financial health. And if you’re a spender rather than a saver then we can help you get started.

Whether it’s freeing up some disposable income by consolidating other debts, managing an urgent bill like car repairs or if you’re investing in a big project like a new kitchen or loft conversion then employee loans provide an affordable alternative to high street lenders, as well as offering a really convenient way to repay.

MONEY@WORK can help employees’ become more financially resilient by reducing stress and anxiety and in doing so tackle poor workplace relationships, performance issues and absenteeism.

Existing MONEY@WORK partners making great use of this free initiative include businesses large and small in Bristol, Bath and the surrounding area.  These employers are minded to improve the overall well-being of their people by focusing not just on physical and emotional welfare, but also an increasingly crucial third element; financial welfare.  With partnerships already established at Bristol City Council, Knowle West Media Centre, Better Food and many others, MONEY@WORK is delivering fantastic benefits to thousands of employees and helping businesses thrive all across the region.

Bristol Credit Union is a not-for-profit co-operative, helping local people save and borrow at fair rates. When you save or borrow with Bristol Credit Union, more of your money stays local, giving our regional economy a boost.

Bristol Credit Union has been serving communities in the West of England since 1999 and has grown strongly during that time with over 14,000 members. We look after £7million of savers’ deposits, and in the financial year 2018/2019, we were able to help over 3,350 borrowers, borrow £5.9million at affordable rates.

Through Bristol Credit Union you can access:

  • Ethical savings – your savings help create affordable loans for local people
  • Loans up to £15,000 – the interest you pay stays in the local economy
  • And a range of services to help people manage their money, including our Rent Direct Account and budgeting tools to support people on Universal Credit

Find out more by visiting the websites below:

https://moneyatwork.org.uk

https://www.bristolcreditunion.org

Main photo: Supplied by Bristol Credit Union 

 

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