News
Coastal makes a splash in Parkstone - September 2009
Coastal Credit Union Payroll Deduction
Employers are being urged to encourage their staff to save for that rainy day, Christmas, birthdays and other events by local Credit Union – Coastal Credit Union.
Representatives from Coastal Credit Union have been running a series of lunch-time roadshows to promote the benefits of supporting their local Credit Union amongst employers and their staff.
Recent beneficiaries of their advice were employees at Spectrum Housing Group, based in Christchurch, who took advantage of a recent roadshow to find out more with several staff signing up to the Credit Union on the day.
Anne Wildeman, Group HR Director at Spectrum Housing Group said, "The event was really informative. We've worked with Coastal Credit Union to set up a system through our payroll which enables staff to save each month through the credit Union. It's a great way to save a little but often for that time when you may need the money." Wayne Morris, Chief Executive of Spectrum Housing Group is shown receiving a 'Payroll Champion' Certificate on behalf of the organisation.
Setting up a 'Save as you earn' scheme with Coastal Credit Union is quick and easy. Employees complete a membership application form providing two forms of identification along with a simple mandate setting out the level of savings they want to be deducted from their salary. This mandate is then sent to their payroll department who provide a monthly BACS payment or cheque to Coastal Credit Union with a list of members and level of individual savings.
Supported by the Big Lottery and Esmee Fairbairn Foundation, Coastal Credit Union is a financial co-operative owned and run by its membership. It is passionate about encouraging saving, budgeting and informed borrowing among people who live or work in the BH postcode area including Bournemouth, Poole, Christchurch, Ringwood, East Dorset and the Purbecks.
John Merritt, President of Coastal Credit Union said "With the current reduced borrowing opportunities, it is important for people to start putting money aside for Christmas; birthdays; holidays and domestic emergencies. Saving with Coastal provides employees with a simple, affordable way to prepare for the challenges of modern living and enables them to feel more in control of their finances".
Regular savers can also apply for competitive loans ( min 1% per month, 12.68% on a declining balance which costs £67 in interest on £1000 loan over 12 months).
If you would like a lunchtime Roadshow brought to your work premises, please call David Bevis or Vicki Tongeman on 01202 566878 or info@coastalcreditunion.co.uk. You can also visit www.abcul.coop to find out more about Credit Unions nationally.