Financial Well-Being

The financial well-being of your employees is vital.  Financial worries affect both mental and physical health, impacting directly upon employee performance.

The potential impact of debt upon an individual’s health is now well-researched and widely accepted. Research also shows that financial instability can directly affect an individual’s ability to focus and work effectively.

Members of staff in your business could be suffering from poor psychological well-being, including increased stress and anxiety. If so, it could be harming their productivity and even lead to absenteeism.

You can help though, and you don’t have to simply raise someone’s salary. In fact, if people struggle to manage money, they may require a more supportive approach.

Savings provide long-term protection for your employees and their families. For some, it may even change the way they view money and set them on the right track for the future.

What can You Do as an Employer?

Understanding there may be staff within your team that are struggling is the first step, then you need to create a solution.

Recognise the issue
One of the biggest difficulties in addressing an employee’s financial worries is that they will most likely keep them private. As such, it’s important to create an environment where staff feel they can comfortably and discretely raise such issues.

Build support
If you wish to provide formal support to your staff in this area, you need a responsible provider of financial services. A credit union is a great example of a trustworthy organisation that can fulfil this requirement.

We can help
We can enable you, the employer, to provide your team with access to these services as a free employee benefit. Your employees won’t need to go directly through you in order to register for our services or apply for a loan. The ability to do this straight through us, puts many at ease.

How we can help you

There are several ways we can enable you to help your staff to enjoy a healthier financial life – improving their well-being and ability to work.

Savings plans
Our savings plans can help protect your staff against financial emergencies and longer-term requirements, such as saving for next year’s holiday or home improvements.

Payroll loans with a fair interest rate
Offering a fair APR and a responsible borrowing period makes borrowing money more manageable than many forms of commercial short-term lending.
Borrowing through payroll is also very convenient for your staff, as the repayments are deducted from their salary.

Contact Us

For further information, please contact us at office@wascu.co.uk or call 01793 522216.  We can then guide you through the process of setting up a scheme for your company.