Becoming a Payroll Partner

What is the Salary Saving Scheme?

The Salary Saving Scheme offers an automatic, low0cost benefit for employees, helping them to save regularly and access affordable loans directly from their payroll. This supports employees to build financial resilience, reducing financial stress and improving overall workplace wellbeing.

Why Use Payroll Deduction?

Payroll deduction is a convenient, automatic way for employees to save consistently or repay loans, all managed directly through their pay. By using this “set and forget” method, employees can build up savings gradually and reliably – without the need to set up external transfers or worry about access to funds beforehand.

Benefits of the Scheme

As an employer, you obviously want the best for all the people that you employ. Beacon Savings & Loans can be a part of the solution that you put in place to help. Employees who have financial stress and worries are more likely to be off sick and to be less focussed.

  • Enhanced Employee Productivity: Reducing financial stress helps employees stay focussed, improve performance and decrease absenteeism.
  • No or Low Cost to you, the employer: Offering this benefit can reduce requests for pay advances. Employees gain access to low-cost loans, helping them avoid high-cost payday lenders and reducing the risk of high debt and financial stress.
  • Improved retention and Loyalty: Employees value this supportive and ethical financial benefit, fostering greater job satisfaction and commitment.
  • Positive Corporate Reputation: Showcases the company’s dedication to employee wellbeing and community support, enhancing brand image.
  • Strengthened Local Economy: Partnering with Beacon Savings & Loans keeps funds within the community, boosting local financial health and sustainability.

What do you, the employer need to do?

The monthly processing is pretty simple, we will let you know who and how much. Your team needs to confirm this and send us the money. We will take care of the rest.

We will create a webpage just for your employees, where they can find up more, sign up, begin saving or apply for a loan. As members they will be able to access their account 24/7 via our app or website.

It really is that simple. Ready to become a payroll partner and give your employees access to ethical and affordable savings and loans?

Get in touch below












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    Is there a minimum amount required to save?

    With our Salary Saving Scheme, we have a minimum amount of £2.50 per week or £10 per month.

    We do this to encourage the habit of saving on a regular basis. These funds are locked in with the credit union until the loan is repaid, these funds are then transferred to a regular saving account, these can be withdrawn or used to borrow against applying for our Saver Loan.

    Is it safe?

    Beacon Savings & Loans is a covered by the Financial Services Compensation Scheme. This means that up to £85,000 is covered in the event of our closure.

    You can read more about the Financial Services Compensation Scheme HERE.

    Can I sign my company up to be a partner?

    If you have the authority to do so, of course. The company must be based within our common bond (the geographical area in which a credit union can sign members from). Employees may live outside of this area, as long as they work with this boundary.

    Our common bond currently covers all of Cheshire, as well as the remaining WA post codes, such as St Helens. You can find the full list on Our Members page