UCL launches staff saving scheme via credit union partnership

UCL - Following collaboration between HR and the UCL Institute for Global Prosperity's Financing Prosperity Network (FPN) we are delighted to announce that UCL will partner with London Capital Credit Union to establish a salary saving scheme at UCL. All UCL staff will be able to join the credit union and designate a portion of their salary to be deducted and transferred directly to their own savings account. Regular saving via payroll in this way is recognised as a positive way to encourage greater financial sustainability. This will allow staff to save money and importantly, in turn, support the credit union in its broader mission to provide more ethical forms of credit for those living or working in London. The credit union is a not-for-profit savings and loans co-operative dedicated to promoting saving rather than borrowing. It also provides low-cost loans at times of need. By reinvesting any surplus within the organisation and its members, the credit union helps to build community wealth across London.