Join Moneyworks Wales as a payroll partner.
Joining us is a quick and easy three-step process:
You make an initial enquiry, which will result in a Moneyworks Development Officer contacting you.
The adviser will explain more about the scheme, answer any questions and help you integrate the payroll scheme in a way that works for your
organisation.
Once your organisation is on board, your Moneyworks Development Officer will work with you every step of the way.
They will provide materials to spread the word among staff, provide drop-in sessions as needed, and work with your health and wellbeing team and your payroll department.
We work with organisations large and small, so can tailor our approach to your needs.
Staff can start saving and can access affordable credit when they need it.
With payments taken straight from their salary (just like National Insurance and tax) your staff will see their savings grow, whether it’s a rainy day fund or they’re saving for a special event.
And when they take out a loan they can be sure they won’t miss a repayment, which is good for both their peace of mind and their credit score.
With 150+ payroll partners across Wales, Moneyworks is the free staff perk that boosts financial wellbeing.
Moneyworks Wales is an award-winning payroll savings and loan scheme funded by the Welsh Government. It partners with credit unions (member-owned financial cooperatives) to allow employees of participating organisations to save and borrow directly from their salary.
Employees sign up through the Moneyworks Wales website and choose their employer and the credit union they will be working with. Salary deductions are made before payday, facilitating savings and giving access to fair-priced credit from the credit union, even for those with poor credit scores.
As not-for-profit lenders, we encourage staff savings and offer only loans that employees can afford. We understand that people’s circumstances vary and they may be paying too much for credit. Our £500 express loan has the same terms as a payday loan but can be up to £430 cheaper.
Simply sign a Service Level Agreement with the participating credit union. Your employees then sign up directly. You just send a monthly bank transfer with a spreadsheet listing employee names, credit union numbers, and amounts. We handle the rest, including marketing materials, and online or in-person sign-up and awareness events.
Recognising that lending isn’t always the solution, we partner with other organisations to provide comprehensive financial wellbeing support.
Moneyworks complements other benefits, addressing diverse employee financial situations. While some may have savings, others rely on high-interest loans. As a not-for-profit, we lend responsibly and encourage saving to reduce credit reliance. Our transparent, fee-free* approach to obtaining loans ensures access to fair credit.
* Some credit unions might charge a joining fee
The ethical salary savings and loans scheme that makes money work for your organisation, staff and community.
Here are a few words from some of our payroll partners:
Legal & General
“We are a financial services organisation so we recognise the issues that can affect our employees. We want them to be able to manage their finances carefully and make informed decisions on their financial future. The payroll savings scheme has a very clear message and has a really tangible benefit to employees if they want to be part of it.”
Cartrefi Cymru
“We take the financial health of our staff very seriously indeed. Our purpose is to protect vulnerable people in the community and equally we want to ensure our own staff feel protected and supported which is why we encourage them to become financially secure. This in turn reduces their stress levels and improves absenteeism in the workplace.”
Linc Cymru
“Credit unions offer an affordable and democratic alternative to high street banks, (they are) rooted in our local community and contribute to the economic well-being and resilience of the community.”
Newport City Council
“It’s so important to the workforce because they can use it as a vehicle to support their financial wellbeing. It’s easy to save, use and they love being a member. Some have taken out loans and it’s important they have access to an ethical lender.”
