20 October 2011
University signs up for staff savings scheme
Photo opportunity: 2pm on Thursday, 20th October at Discovery Credit Union, Wellgate Centre, Dundee. Julie Strachan, Deputy Director of Human Resources at the University, will visit Discovery Credit Union to mark the employer partnership agreement and International Credit Union Day.
The University of Dundee has entered into a partnership with the local Discovery Credit Union in a move which will provide its 3000 staff members with easy access to safe saving and borrowing facilities.
Julie Strachan, Deputy Director of Human Resources at the University, will meet with DCU representatives to hear first hand the benefits available to University staff and to formalise the arrangement. Julie will visit DCU’s Main Office alongside other University employees at the Wellgate Centre at 2pm on Thursday, 20th October, to help mark International Credit Union Day.
Under the terms of the partnership, the University will offer employees a simple payment deduction facility which will see a portion of their salary decided by them transferred to their Credit Union account. The University will promote the scheme to all staff through internal communications and advertising.
Julie Strachan said she was delighted that the University was able to help staff access the facilities offered by Discovery Credit Union.
'The work Discovery Credit Union carries out is very worthwhile and beneficial,' she said. 'The new arrangement offers a simple way for staff to open a new savings account and make payments to it directly from their salary each month.
'There are many benefits to saving and borrowing in this way and we are delighted to be able to help promote a responsible option for staff who are looking to manage their finances responsibly.'
Avril Phillips, Chair of DCU, said, 'We are thrilled to welcome the University on board as an employer partner. I am often told by members who save via payroll deductions that they can’t believe how easy it is to build up savings in this way - 'what you don't see, you don’t miss' is a phrase often used.
'We all benefit from having some savings behind us, especially in the current economic climate, and our range of affordable loan products give members the opportunity to borrow money at affordable rates of interest. It is great news that many more people will be able to discover the benefits of membership through this new partnership'
The link between the University and Discovery Credit Union has been welcomed by campus unions at the University.
'We are delighted to support the development of the University becoming an Employer Partner with the Discovery Credit Union and are happy to promote this opportunity to their members,' said Janice Aitken, President of Dundee University and College Union.
Rhona Clarke from Unison added, - Not only is the credit union movement ethical in ethos, it provides tremendous support to the wider Dundee community particularly in this tough economic climate.'
Discovery Credit Union is a locally based, not-for-profit, financial co-operative owned and run by its members to provide a safe place to save and offer responsible, low-interest loans. Members include people from all sectors of the community.
DCU is authorised and regulated by the Financial Services Authority, and members’ savings are fully protected under the Financial Services Compensation Scheme in the same way as banks and building societies.
All profits are reinvested in services for members, and money is kept in the local community. Free life insurance is offered on savings and loans.
Employer Partners are businesses and organisations that support DCU’s aims of encouraging people to save regularly and borrow wisely. The scheme provides a great way for employers to be involved with the local community and provide benefits for its employees, including:
- The peace of mind that comes from secure savings.
- Access to affordable credit when needed.
- Allowing them to plan ahead for holidays, Christmas or other events or luxuries.
- Feeling more in control of their finances.
University staff can sign up for the scheme by contacting the Payroll Department.
More information is available by visiting the Discovery Credit Union website at www.discoverycu.co.uk.
For media enquiries contact:
Roddy Isles
Head, Press Office
University of Dundee
Nethergate, Dundee, DD1 4HN
TEL: 01382 384910
E-MAIL: r.isles@dundee.ac.uk
MOBILE: 07800 581902 |
