If you're already a member of a community bank, you can sign up for payroll deduction by completing the form on our salary savings page. Not a member yet? Visit derbyshire.gov.uk/creditunions to find out more about community banks and credit unions in Derbyshire. Once you’ve joined and got a membership number you can sign up for our payroll deduction scheme.
The great thing is that by saving directly from your salary, the money can build up over time without you having to do anything. You'll also get an annual return on your savings (known as a dividend). It costs nothing to set up and manage and as deposits with a community bank are protected by the Financial Services Compensation Scheme, you can be sure your money is in a safe place. You can access your savings whenever you need them.
Salary deductions can be used to save or pay towards a loan, or both. The payment comes out as one monthly payment and whether this is for a loan or savings is confidential to you and the community bank
The money you invest will not only work for you but will also allow community banks to offer safe, affordable loans to people who may turn to high-risk borrowing like payday lenders.
Watch our short video to find out more