Employers can lend money directly to their staff in the form of Employee Benefit Loans.  FairQuid and Jubilee Tower Credit Union have teamed up to launch an innovative scheme whereby local employers can support the wellbeing of their staff by accessing Credit Union services almost instantly. The loans are then repaid directly from salary. The partnership gives employees an alternative way to borrow money, and the chance to switch current high-interest loans and cut debt.  Proven advantages to the employer includes: a positive effect on the wellbeing of staff, resulting in less stress, less absenteeism and reduced recruitment/training costs.

 

The scheme has attracted a lot of interest from the national media and WEC Group Commerical Director Wayne Wild says “Credit unions are uncut diamonds of the credit world. The association of the WEC Group with Jubilee Tower Credit Union enables us to offer some of the UK’s lowest interest rates.”

 

Read more about the scheme here: http://www.wec-group.com/news/ebl-scheme-is-launched.html