As part of its work on Financial Inclusion, Middlesbrough Partnership has developed an agreement with Employee Services that will enable Middlesbrough Council employees to join Pioneer Credit Union and have monthly (or weekly) deductions taken direct from their pay to contribute to a savings scheme, if they wish to do so. A message will appear on employee payslips for March to make staff aware of this opportunity.

A Credit Union is a community bank that is owned by members of the local community. Pioneer Credit Union covers the whole of Middlesbrough so anyone who lives or works within the town is eligible to join. You can choose the amount you save and this should be a consistent amount that you can afford each month.

Aims of a Credit Union

A Credit Union aims to:

• help you save regularly, no matter how small
• give low cost loans to members
• help and support members to manage their money.

The benefits of joining a Credit Union

There are many benefits of joining a Credit Union, such as:

• it is an easy way to save regularly
• small cash rewards called dividends may be paid if you save
• it brings people together and creates a community spirit
• it helps businesses by keeping money within the local community
• everyone is treated fairly
• you can borrow money at low interest rates

If you would like to be a member of the Pioneer Credit Union and have monthly (or weekly) deductions taken from your pay you will need to:

• fill in a credit union application membership form and a payroll deduction form. You will need to send these to: Pioneer Credit Union, c/o Elaine Gilmour, Community Ventures Ltd, The Greenway Centre, 101 The Greenway, Thorntree, Middlesbrough TS3 9PA.
• pay £1 to join and £1 to save. This will be paid from your first salary deduction.

More details of this staff savings scheme opportunity are provided to the right of this page, together with a Credit Union application membership form and payroll deduction form.

If you require more information on joining Pioneer Credit Union then please telephone Elaine Gilmour on 01642 230314.