Department for Work and Pensions: Credit Unions

(asked on 1st July 2019) - View Source

Question to the Department for Work and Pensions:

To ask the Secretary of State for Work and Pensions, whether her Department offers employees a payroll deduction to enable staff to join a credit union; and if he will make a statement.


Answered by
Will Quince Portrait
Will Quince
This question was answered on 8th July 2019

In 2016 DWP launched a payroll savings scheme with credit unions to allow staff to start automatically saving through their payroll. This was launched by their Welfare Reform Minister at the time Lord Freud.

DWP has made arrangements with three credit unions to offer a savings facility and other financial services to employees and payroll deductions can be made from salary into each of these. 4512 employees have so far joined one of the three credit unions.

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