We have arrangements with Rugby Borough Council and Warwickshire County Council whereby their employees can join the credit union and have their payments to us deducted automatically from their pay. Anyone wishing to take advantage of this should contact us and join in the normal way, showing the usual two forms of ID (This is a legal requirement). They then sign a payroll deduction form, deciding how much they wish to pay and we do the rest.
Eligibility for membership is straightforward for those working for Rugby Council, since by definition they are employed within the Borough of Rugby. For employees of Warwickshire County Council it may depend on where they live or work. You could work for WCC but be based in Rugby, in which case there’s no problem. If you work somewhere else in the county but live in Rugby, again there’s no problem. If you’re a WCC employee but live somewhere else you may be still be able to join a credit union within Coventry or Warwickshire. Just ring our office for advice.
A further attraction is that from time to time we offer a £500 instant loan for people who sign-up to the payroll deduction scheme. Normally we like to see new members establishing regular savings for at least three months before we consider them for a loan. In the case of payroll members that have been with their employer for at least 12 months we feel more confident and therefore waive the three months “waiting” period. However, we still need to have proof of affordability and we insist that members pay something into their share account whilst repaying a loan.
If you work for someone else and feel your employer could be operating a payroll deduction scheme then come and talk to us. All you need is to either live or work within the Borough of Rugby.