Expected to find Sheffield Credit Union or LASER? You've come to the right place. We're now called South Yorkshire Community Bank. Read more about our name change

Payroll Services for Employers

Help your employees to improve their financial wellbeing by offering an easy and safe way to borrow and save, direct from payroll.

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Become a Payroll Partner

Supporting financial wellbeing at work helps employees to build financial resilience. Payroll partners offer employees fair and safe ways to borrow and save through deductions at source.

  1. Enhance employee benefits

  2. Support financial wellbeing

  3. Simple payroll deductions

  4. Preferential rates on loans

  5. Support your community

Improve financial wellbeing

South Yorkshire Community Bank offers an easy way for you to help your employees to borrow and save through an ethical, not-for-profit, safe and regulated provider that supports the local community.

Easy for you: You can offer a free benefit through our super simple system.

Easy for them: By deducting from payroll at source, their savings or loan repayments are taken care of before they receive their earnings.

Payroll schemes are recommended as good practice by The Financial Inclusion Centre.

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Build money management confidence

Many studies show that employees who save or borrow via payroll deductions are more likely to:

  • Save regularly

    And keep the habit

  • Keep up

    With loan repayments

  • 72%

    Want workplace savings*

*Money and Pension Service, 2022

How does it work?

All you need to do is sign up to the service and we’ll do the rest with your payroll team.

  1. We set up the process for payroll deductions with your payroll team for all employees.
  2. Your employee joins South Yorkshire Community Bank and lets us know how much they would like borrow or save.
  3. We tell you how much to deduct from the employee’s wages each time they are paid.
  4. You send us a simple report showing all deductions made in the period and a bank transfer for the total amount.
  5. We allocate the funds to each employee’s account.

And it’s as simple as that!

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Financial wellbeing matters

Employers could not only attract and retain employees but improve productivity and reduce absenteeism risk.

  • 28%

    Of employees say money worries affect their ability to do their job.*

  • 35%

    Of employees say their financial situation is making their mental health worse.**

  • 29%

    Of employees say their financial situation is making their physical health worse.**

*CIPD, Reward Management Survey, 2022
** University of Bristol Personal Finance Research Centre, Financial Fairness Tracker, 2025

Join our growing list of payroll services providers

Want to know more about how to join our movement of over 30 local employers and support your local community?

Whether public, voluntary or private sector, contact payroll@sycb.co.uk to arrange an introductory meeting.

Not only can you offer this service for free, we’ll provide marketing materials and support to help you support your employees’ financial wellbeing.

The value of financial wellbeing policies

According to the CIPD Reward Management Survey (2022):

  • 59%

    Of employees say it is important their current employer has one.

  • 65%

    Of employees say it would be an important factor in their next move.

  • 71%

    Of those working for an employer with a policy say their employer has had a positive effect on their financial wellbeing.

The best bit?

Only your employee and South Yorkshire Community Bank know whether they’re borrowing, saving or both. Enquire now.

What our happy members say

“Great way to save for a rainy day. I really like keeping my savings locally and it’s super helpful to be able to do it via payroll deductions. Very straightforward and reassuring.”

Rosie C

“I have £30 taken out of my salary each month to save up for my annual holiday. It’s great to know that my money is being saved for me and that it will be helping other people with loans.

Jane