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Payroll for Employees

2 Shires works with a number of employers throughout the Bassetlaw and Bolsover districts, to allow their staff easy access to secure savings and low cost affordable loans.

What is Payroll Saving?

  • Payroll saving is making regular savings directly from your salary. Your employer deducts the amount you wish to save direct from your wages, via the payroll, and transfers this to your 2 Shires savings account - hence it is often called Payroll Deduction.
  • Saving direct from your salary is so easy and hassle free. You can save as little, or as much, as you wish. You can withdraw your money at any time without any charge or penalties.
  • Your employer has no access to your 2 Shires account, balances or details.
  • There is no cost to you, other than a minimal £2.00 membership fee.

Why join Payroll Savings?

  • Saving directly from your salary is the 'painless' way to save - it's often easier to put some money aside before receiving your pay.
  • Saving money regularly helps protect you from unexpected financial pressures and helps you manage your money more effectively.
  • You can save as much as, or as little, as you want and we normally pay a dividend on your savings.
  • Savings soon build up to buy that special present, a holiday, or to help with one of life's emergencies.
  • Savings can be withdrawn at any time*
  • If you need to borrow money, 2 Shires offers low-cost loans to members - you can apply for a loan, and the repayments can be deducted from your payroll savings.
  • Your money is fully protected. We are regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
  • Unlike staff 'kitties', or informal savings schemes, your savings are entirely safe covered, just like banks, by the Governments compensation scheme.

How to save or repay direct from your payroll?

Our 'save or repay' payroll deduction scheme allows you to deduct regular amounts directly from your salary straight into your 2 Shires account, before it reaches your bank account.

If your employer provides this service you can complete a membership application online. With your membership number you can complete our online payroll deduction form, and we'll do the rest.

* You must keep £1.00 in your account to keep it open.


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2Shires Credit Union Tel: 01909 500575 Email: info@2shires.org.uk Web: http://www.2shires.org.uk
Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority
FCA & PRA FRN: 213893