What are Salary Savings?

Derbyshire Community Bank Salary Savings Scheme is a free staff benefit that employers can offer to support the financial wellbeing of their workforce. By giving employees the option to save directly from their wages, you’ll be helping them build good money habits, reduce financial stress, and enjoy greater peace of mind.

How it works for employers

Becoming a Salary Savings partner with Derbyshire Community Bank is simple. Register with us as a Salary Saver Partner and we will set up your workplace savings scheme for your employees at no cost to you. We currently operate an opt-in scheme; employees choose to save with the scheme.

1. Employees choose to save some of their salary directly into their account with DCBank.
2. Employer confirms with DCBank the employees and values to be deducted prior to pay day.
3. On pay day, the employer transfers a single payment to DCBank for all employees’ deductions
4. Employee payslips add an addition deduction for ‘credit union’
5. Salary Saver deductions are credited to the employees’ member accounts same day

Ready to get started?

To join the Derbyshire Community Bank Salary Savings Scheme, simply complete our Salary Saver Enquiry Form below. Once we receive your details, we’ll guide you through the next steps and help set up your savings directly through payroll.

Salary Saver Enquiry Form

Why offer Salary Savings?

• Free, hassle-free benefit for your staff.

• Help employees feel financially supported and valued.

• Encourage regular saving, reduce money worries and boost employee wellbeing.

• Support the national financial inclusion strategy to improve financial resilience

By partnering with Derbyshire Community Bank, your organisation can demonstrate a real commitment to staff welfare while making a positive difference in your community.

Not Convinced yet?

Saving with a credit union via Payroll Deduction is widely adopted as an employee wellbeing benefit by many local authorities, large employers in the UK and around the world including British Aerospace, Royal Mail, BT, police, NHS, MOD.

The following local employers already provide Salary Saver with DCBank

Research into Payroll Deduction and saving by deduction at source is compelling; high satisfaction rates, positive financial and wellbeing impact. We are grateful to the following organisations for their research into this field:

Fair4All Finance report Deduction Lending: Does it Add Up for Low-Income Borrowers?

Financial Inclusion Centre report into Getting Workforces Saving: Payroll Schemes with Credit Unions

The Financial Conduct Authority (FCA) see workplace savings as a significant way to enable more people to save – Their Statement on Workplace Savings Schemes explains the rules and compliance relating to workplace savings schemes.

UK government financial inclusion strategy highlights workplace savings as a key solution to improving financial resilience for those in employment. As part of that commitment, the recently launched National Coalition for Workplace Savings created by the Money and Pension Service, NEST and TISA is raising the profile of salary saver schemes and is supported by an increasing number of employers, including DCBank.