Employee
Benefit Scheme

We support businesses by helping their employees to save, borrow and plan for tomorrow.

Watch the video

To learn how our scheme benefits employee and employer alike.

The financial well-being of your employees is vital.

Financial worries affect both mental and physical health, impacting directly upon employee performance. Citysave offers a solution that benefits employee and employer alike.

Research shows that staff, with significant concerns surrounding their own finances, perform less well than those that are financially stable. This is due to the impact of debt upon the individual’s health, which interferes with their ability to focus and work effectively.

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How do I get the scheme up and running?

Our simple 6 point process outlines all the steps you need to get a scheme up and running.

We can help with agreement templates and co-branded promotional materials.

1

Enter into written payroll deduction/data sharing agreement with Citysave – we will provide the necessary documents.

2

Issue employee benefit launch communication. Citysave will provide assistance where required, drawing on our experience with other employers.

3

Receive promotional material to help promote the benefit. Citysave will provide co-branded materials across a range of media.

4

Agree/exchange contact point within employer payroll team and agree appropriate secure mechanism for data exchange.

5

Receive Citysave bank details to transmit monthly aggregate payment.

6

Send monthly summary of payroll deductions, using secure email protocols, to enable Citysave to reconcile and apply credits to employee accounts.

  • Birmingham City council strongly supports the principle of regular savings as part of financial wellbeing. We have offered our employees access to simple payroll savings with our partner, Citysave, for some 30 years and hope other City employees will recognise the value of this most simple form of employee benefit.

    Pete Yeung

    Rewards and Benefits, Human Resources

  • Citysave has been working with St Basils for a number of years to promote savings and small loan agreements for our employees through salary deductions. St Basils has a full range of prevention, accommodation, support and engagement services as well as services which aim to ensure young people develop the skills and have the support needed to move on successfully. Our young people are supported by more than 250 staff who are dedicated employees who also at times face their own challenges. As an organisation we believe it is essential to support the financial wellbeing of our staff, and we value the benefit that a good credit union can offer. We have very good links with Citysave, and a representative attends our induction day for all new staff. They also participated in a recent St Basils reward and benefit day to promote their services, which was welcomed by employees. We have a good working relationship with Sean and Bethan who are very flexible in supporting our requests. I would recommend Citysave for all the reasons above, and for the continued account management service that we receive.

    Judy Large

    Head of HR, St Basils

  • The Binding Site Group Ltd consider employee wellbeing a high priority. This includes financial wellbeing and avoidance of high cost personal borrowing which can be a major distraction, impacting on mental health and wellbeing. Citysave offered us a very simple and free to employer solution under which our staff can access, direct from payroll payments, everyday savings and unsecured loans at fair prices”

    Victoria Morbey

    Global Head of HR, Binding Site

  • We believe financial wellbeing starts with simple basic cash savings and L&G offer simple direct access to such savings, for our Birmingham employees, through our partnership with Citysave. We see the promotion of such a simple Employee benefit, administered without cost via payroll deduction, as an important contribution to improving the savings culture in the UK. In the long term, a positive change to savings attitudes will benefit financial wellbeing, which is something we believe all Employers should support.

    Frances Borrer

    Community Investment Manager, Legal & General

FAQs for employers

Would our Employees money be safe ?

Savers at Citysave are protected by the national Financial services compensation scheme (FSCS). Click here to find out more

Does Citysave have a track record in providing service to other large Employers ?

We have been providing this service for some thirty years – please see here some of the testimonials we have received

What would the service agreement look like ?

Specimen agreement wording can be provided on request – please note there is specific clause making clear the Employers have no liability at all for any Employee liabilities that may arise as a result of using services provided by Citysave.

Want to find out more?

Contact us to arrange a free no obligation assessment

0121 616 6200

*For eligible members (subject to application). Loans available from 12.7% APR. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority FRN: 213258. Members’ deposits are protected by the Financial Services Compensation Scheme.