How Our Payroll Savings Scheme Could Benefit Your Employees

Here at CLEVR Money we’re proud of the fact that we work in the heart of our local community. As a not-for-profit organisation we put any money we make back into improving the lives of our members and the places in which they live and work, and our commitment to doing so is demonstrated by our payroll savings scheme.

The payroll savings scheme we operate is one of the ways in which we work with local businesses to help improve the lives of all our members. Our opinion is that more successful local businesses will help to boost general well-being in the communities which surround us, and that the payroll savings scheme will help to make those local businesses more productive as well as helping them to be better places to work.

If you run a business then you probably know from experience that things go more smoothly when your workforce are able to concentrate on their work without worrying about things such as paying their bills or running up debts. The payroll savings scheme is a simple means of helping those employees to build up a pot of savings so that, if an unexpected expense does come along, they’ll be better placed to deal with it quickly and get on with the rest of their life.

Once your business signs up to our payroll savings scheme your employees will find it much simpler to build up a pot of savings with the minimum of effort on their part. In simple terms, the payroll savings scheme works as a partnership between your business and CLEVR Money. Under that partnership, your employees are able to sign up for the payroll savings, and have as much or as little money as they like deducted from their salary every pay day and transferred into their CLEVR Money savings account.

The benefits of this are two-fold. The first benefit is that your employees will build up a pot of savings which can be easily accessed if an emergency or unexpected expense comes along, or even if they’re saving specifically for something such as a family wedding or holiday. The second benefit is that they become members of CLEVR Money, able to apply for our ethical loans. We call them ethical loans because our status as a non-profit organisation means that we can keep interest rates as fair as possible, and offer affordable loans without extra fees or surprise charges hidden in the small print.

We offer the payroll savings scheme free of charge to employers and public sector organisations across Blackpool, Fylde, Wyre, Preston and Lancaster, including organisations such as Blackpool Council, Fylde Borough Council, Lancashire and South Cumbria NHS Foundation Trust and Preston Community Gateway. A full list of the partners signed up to our payroll savings scheme is available on our website here, and if you do choose to sign up we’ll liaise directly with your payroll department and work with you to improve the lives of your employees.