Does your employer offer our payroll deduction scheme?
…let’s see if they do
Our payroll deduction scheme is a great way to help manage your money. Check out our current Payroll Partners below…..
If your employer is a Payroll Partner, click below to join us now
If your employer isn’t a Payroll Partner – ask them to contact us, we would love you to have the benefits too!
All the information you need…
Why should I join….
For employees: a payroll deduction scheme with the Northumberland Community Bank is a free benefit provided by your employer.
A payroll scheme enables you to set up regular savings easily. You decide what you want to save (min £5 per month) and this amount is deducted automatically from your monthly salary and sent to your personal Northumberland Community Bank account.
You can use your account for whatever purpose you choose – to provide a nest egg for tackling emergencies or to buy that luxury item or holiday.
Helping you to manage your money, you are building your financial resilience and wellbeing.
did you know?
- 26% of working age adults in the UK have no savings and 29% have less than £1,000 in savings
- Money worries are one of the greatest sources of stress for working adults in the UK
- Savings can be withdrawn with instant access and no penalty
- You have exclusive access to our Instant loans (see instant loans tab) and preferential rates on other loans
- Our technology allows you to manage your account via our Mobile App or your Member area on our website
- We provide free life insurance with loans and savings (see free cover tab)
Saving with us….
If your employer is one of our payroll partners you can save with us through payroll deduction. To do this you first need to join us as a member.
It couldn’t be simpler, just click the ‘join as a payroll’ member link above and select your employer in the list then fill out the online application form.
We will then check your identity electronically and register you in the scheme with your employer.
Once this is complete, (this usually under takes 24 hours), you will receive a welcome email providing you with your member number and easy instructions on how to use your account and access your “Member Area”.
The Member Area is where you can access and manage your account at any time. With the minimum monthly savings only £5, you can set the amount to suit your requirements and can also make additional deposits at any time.
Please note: the maximum deposit for the account is £15,000; there is a joining fee of £2.75 and an annual administration fee of £2.75.
When you join us you need to provide:-
- Your staff Number
- National Insurance Number
- Address history for the last three years
- A copy of your most recent payslip
Taking a Loan out with us….
Applying for a loan…
For payroll members there are 3 types of loan options:
1). Instant Loans – Instant£500 and Instant£1000. These loans are very easy to arrange as there is no application form and can be organised very quickly. For full details and conditions, see our instant loan tab.
2). Loans from £300 – £15,000 Apply for a more tailored loan to meet your personal circumstances via your Member Area (via website or mobile app). Loans can be organised quickly and easily and at a preferential interest rate because you are applying through our payroll deduction scheme.
3). Loans from £2000 – £5000 – Our Brand New Payroll Deduction Home Improvement Loan. NCB are offering all of our Payroll members a preferential rate on loans between £2000-£5000…It’s even lower than the average high street overdraft, credit card and bank loan!! We do ask that you send over your 3 months latest bank statements to go along with your application and we will also request you setup open banking on loans over £2000.
Monthly Payment Approx.
Predicted End Date
Repaid from Salary Sacrifice
|Bank Loan||£2500||24 Months||£126 pm||20.9%||£3028||£528||Yes||No|
|Overdraft Facility||£2500||28+ Months||£125 pm||35%||£3530+||£1030+||No||No|
|Credit Card||£2500||28+ Months||£125 pm||34.9%||£3526+||£1026+||No||No|
*Figures taken from Barclays Bank and were correct as of 16/04/2021
Northumberland Community Bank (NCB) are offering all payroll partner staff on a permanent or fixed term (12 months+) contract the opportunity to apply for an Instant£500 loan when you join us as a member.
To take up this special offer, you need to join NCB as a member and agree to make repayment through your payroll deduction scheme which will also include a small amount of savings.
e.g. The repayment for Instant£500 loan will be a minimum of £50 per month which will be made up approx. of £45 for your loan and £5 for your savings, which will be available after the loan term date ends. Loan at 2% (26.8% APR) with total Interest of approx. £50. So over 12 months you could have accumulated a minimum of £60 in savings as well as repaying your loan
To join as a NEW PAYROLL member simply click the links above or below:
- Simple membership on-line application with no further loan application required
- Once you have applied and received your welcome e-mail – Then just e-mail us your most recent payslip.
- The loan offer is guaranteed!
- Repayments are calculated so that you repay the loan in full after 12 months
- No setting up fee or front loading of interest
- You can repay the loan early at any time without penalty
- The repayment is deducted from your monthly salary before you receive it
- Preferential Low Interest of 2% per month on the outstanding balance
- You decide how much you would like to save (there is a minimum of £5.00 pm)
How long will it take to get my Instant£ loan?
‘Instant£500’ loan is subject to minimal checks and so these loans can often be arranged for the same or next working day. If you are unable to e-mail the scanned sign agreement paperwork and cannot attend the office to sign or post the signed document to us. The loan process time will lengthen.
Our aim is to approve and grant PAYROLL members Instant£loans as quickly as possible. If you have an emergency situation; please be assured, we will process your loan as soon as possible
We also aim to have your Instant£ funds transferred into your nominated bank account within 24 hours after your signed paperwork has been received.
New PAYROLL members
- If you would like to take advantage of the instant£500 Loan you first need to become a payroll member of Northumberland Community Bank simply click here
What will happen Next?
We will then check your identity electronically and register you in the scheme with your employer.
You will need to pass all I.D. checks before we register you.
Occasionally we might need further I.D. information from you – you may receive a text message to contact us directly in order that we can progress your registration.
Once registration is complete, (this usually under takes 24 hours), you will receive a welcome email providing you with your member number and easy instructions on how to use your account and access your “Member Area”.
You are now registered as a PAYROLL member.
Existing PAYROLL Members
- If you would like to take advantage of the Instant£500 loan, please log in to your member area and click on ‘apply for loan’. Once you have completed the short application, send a copy of your most recent payslip to firstname.lastname@example.org
- If you have already repaid an Instant£500 loan, you may be eligible for an Instant£1000. Terms and Conditions Apply.
- I am 18 or over
- I work for one of Northumberland Community Banks PAYROLL partners
- I have a contract of more than 12 months
- I can afford the Loan repayments and Share deposits
- I do not have an undischarged Bankruptcy
- I agree to make a savings of £5 per month
An employer’s perspective…
Our PAYROLL Deduction Scheme is both simple and sensible. It enables staff to save regularly, building financial resilience and have a reliable, trustworthy place to get affordable loans.
This helps employees to avoid debt and the stress associated which in turn, helps employers to avoid the absenteeism and staff turnover caused by this stress. This is why PAYROLL deduction makes sense for any organisation.
Furthermore, research suggests that people are more motivated when they feel looked after by their employer resulting in improved productivity and moral.
Our payroll partners also welcome the way our PAYROLL deduction scheme helps them achieve their corporate social responsibility goals. Helping them to help individuals flourish in the wider community.
Additionally, PAYROLL deduction partnering with NCB enables your staff to benefit from all the other services the bank offers through salary deduction.
Research shows that 26% of working age adults in the UK have no savings and 29% have less than £1000 in savings. A worrying statistic!
Saving through a payroll deduction scheme will help your staff:
- maintain control over their finances, meaning less stress and worry
- plan more easily; if they have savings this can help when something unexpected happens
- be better able to decide if there is a need to borrow and pay interest
- Get the savings habit!
- An easy way to save for your staff – They decide the amount they want to save each month (min. £5) and your payroll department deducts the amount from their salary and sends it direct to us.
- An easy benefit to provide for your staff. Our system is automated and requires minimal administration.
- Staff have access to preferential borrowing – We offer your employees a range of affordable loan options with a preferential rate and terms.
- All members get FREE LIFE COVER – The amounts related to their savings together with any loan outstanding.
If you like the idea of offering our PAYROLL deduction scheme call us on 01670 522779
What is a community bank?
It is a not for profit financial co-operative. Members’ savings build funds which enable the bank to lend to other members. Interest charged on loans helps to pay the community bank’s running costs.
What is the benefit of joining for me?
NCB offers easy, convenient and secure ways for you to both save and borrow money.
By saving with NCB you will also be helping the local community as money held with them is used for lending, often preventing people resorting to payday lenders, loan sharks and other high interest lenders including credit cards.
It also offers affordable loans (from £300 to £15,000) which can be paid back via flexible payment plans and it only encourages you to borrow what you can afford to. As an ethical banking service, loan applications are looked at by a person, not a computer. Interest rates are competitive, there are no hidden fees and no charges for early repayment. The bank will also be flexible with your repayments if your personal circumstances or income changes.
As a Payroll Partner employee you can also pay into savings or repay your NCB loan via payroll deduction. Deductions will be taken from your salary on pay day and shown on your payslip.
Is my money safe?
NCB is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). All savings up to £85,000 are automatically protected by the Financial Services Compensation Scheme.
Who can join NCB?
As an employee of our payroll partners you can join the bank through payroll. You can do this by clicking “join as a payroll member” above.
In addition, anyone who lives or works North of Tyne can join directly by clicking ‘join as a payroll member” above.
Do I have to join through my employer?
Not necessarily. There are two options:
- Anyone who lives or works North of Tyne can join directly through NCB website
- Any employee of Northumberland Community Bank’s payroll partners can join NCB through payroll deduction (if you would like to save or borrow through payroll deduction you must join through your PAYROLL Partner organisation).
Do I need to use my work email to join?
Your relationship is with NCB and as a member it is more appropriate to use your personal email address.
Do I need to pay via payroll deduction?
Lots of people find it easier to save if they put their money aside on pay day, that’s why the payroll deduction scheme is popular. You can however, pay via standing order through your own bank, or pay through electronic banking.
If I pay via payroll deduction will it affect my pension?
No, it will not affect your pension as it is taken from your pay after tax, NI and pension contributions have been made.
What happens if I pay by payroll deduction and I leave my organisation/workplace?
Your membership and relationship is directly with NCB. If you leave your employer, they will notify us of this and we will contact you directly to make alternative arrangements for your payments.
I don’t have a permanent contract and work as and when, can I join?
If you work on short term contracts or as bank staff you can apply to join as a payroll savings member. You may not be eligible for our instant loans, however you can still apply for our other loan types.
I’m on a fixed term contract, can I join?
If you’re on a fixed term contract (12 months+) you can join NCB as a payroll member.
I work for the PAYROLL Partner, but my partner doesn’t, and we’d like to get a joint loan, is this possible?
You are entitled to apply for a joint loan, providing your partner is eligible to become an NCB member too. You will both be liable for re-paying the loan. If you are a payroll deduction member you can take advantage of applying for the loan through payroll and the repayments will be taken from your monthly salary.
Will my manager or colleagues need to know if I get a loan from the bank?
As with any other bank everything is completely confidential, the relationship is directly with NCB, your manager or colleagues will not be made aware of your financial situation.
Can I do online banking with NCB?
When you become a member you will be sent a welcome email. This will include your membership number and details of how to join the ‘members area’ where you can access your online balance, withdrawals, apply for a loan and update your details. There is also a NCB smartphone app which can be found by searching for Incuto in your app store.
Is there a minimum amount I need to pay into a savings account?
There is a minimum of £5 per month saving. You can decide the amount you want to pay per month and if you choose to save through payroll, this will be deducted from your salary.
Can I change the amount I save per month easily?
You can change the amount you want to save by emailing email@example.com or sending NCB a message using your members area, or via the mobile banking app.
Do I have to do everything online?
NCB encourages people to join and apply for a loan online, however you can request an application form to be sent or emailed to your home address or arrange to speak to a member of the NCB team by ringing 01670 522779.
I am worried / stressed about my finances, who can help me?
You can access the following services to help:
Money Advice – https://www.moneyadviceservice.org.uk/en
Step Change– https://www.stepchange.org/
CAB Northumberland –firstname.lastname@example.org, CAB–Money Worries: Text DEBT to 81400to receive a call Or call 01670 33 99 60 – Monday to Friday (9am -4.30pm)
If you are a member of Unison you can also access financial support through There for You (Unison Welfare). If you need help with this please call the branch office to make arrangements – 01670 529825 ext: 33347 / 33825.
These Terms and Conditions set out the standards by which Northumberland Community Bank (NCB) operates and by which members agree to abide when joining NCB. They should be read with our Rules which will be sent on request.
- Northumberland Community Bank (NCB) is a trading arm of the Credit Union for South East Northumberland Limited which was incorporated in 2008, itself created from an original credit union in 1990. NCB offer financial products, mainly loans and savings to members joining under a range of criteria.
- Credit unions work by lending the money that members are saving with us. The interest that we charge on loans helps to pay our running costs and of making loans available.
- Credit unions are owned by their members, who are able to have their say on how we are run, most noticeably at the Annual General Meeting (AGM), when officers are elected, accounts are presented and any dividend is proposed. Each adult member gets one vote, regardless of how much they hold in savings.
- A member of NCB aged 18 years or over can receive a copy of the annual Report and Accounts on request and will be invited to attend the AGM as a voting member (although there is no obligation to attend).
- Any surplus made by NCB at the end of the year is distributed to savers or used to develop the business. We have no external shareholders.
- Credit unions are limited as to whom they can accept as members. Please see the section on ‘Eligibility’ for details.
Our Commitment to Members
- We operate our services responsibly and aim to provide products that are affordable and suitable for your needs, based on the information that you have provided to us.
- We will give you information about our products and services and how they work in a clear and understandable way, so that you can decide what’s best for you and your needs.
- We will never pressure you into taking out credit (or any other products).
- We run the Credit Union for the benefit of members. Decisions are made based on what is best for all – or the majority – of members and are governed by our Rules and a framework of regulation.
- We are proud to offer services to everyone within our common bond. Anyone may join and save with us if they meet our eligibility criteria. Aside from making the checks outlined below for eligibility, anti-fraud and anti-money laundering purposes, we do not conduct checks on your finances, circumstances or status for the purposes of joining and opening savings accounts (further checks are carried out for loan applications).
Financial Advice and Debt Counselling
- We are not able to offer any general advice regarding financial products, nor can we recommend any particular provider. We suggest seeking independent financial advice if required.
- The guidance that we as a credit union are able to provide on your finances is limited to that related to our own products. In specific cases, e.g. where a member is having payment difficulties, we can also offer budgeting support from a trained staff member or volunteer.
- We are not licensed to provide any debt counselling or advocacy services and suggest seeking free advice from a debt charity if required, such as your local Citizen’s Advice, StepChange or the Money Advice Service. We do not recommend the use of commercial debt advisors.
- To join NCB, you must be eligible at the time of applying. Our eligibility criteria are collectively known as our ‘common bond’, which contains various ways in which you may be eligible for membership (only one need apply), including where you live or work. Up-to-date information on our eligibility criteria can be found on our website.
- We are obliged by law to satisfy ourselves as to your identity and place of residence. We may collect this evidence manually or obtain your permission to electronically verify your details. We will store copies of documents obtained or the results of the verification as necessary (see below for information about how we look after your personal information).
- We will take reasonable steps to ensure that you are part of our common bond and will contact you if we need further information.
- Once you are a member of NCB, you can remain a member, even if the original eligibility criteria no longer apply (for example, if you move out of the area or change your job).
- NCB have no hidden charges for the services that we provide to our members. Any charges are clearly set out and are intended to cover the cost of providing that service.
- Interest on loans is charged on the reducing balance of the loan, and the rate will be fixed for the whole repayment period.
- We will not charge commission or early redemption fees on any of our loans.
- We reserve the right to require you to pay our reasonable costs and expenses if we have to take action to collect payments owed, including legal costs.
- Our services are provided on a ‘reasonable usage’ basis. Where applicable, we reserve the right to charge for services that are not being used as intended. This will be communicated to you, with details of how to avoid these charges.
Services provided by third parties
- We work with other organisations to offer services that we wouldn’t be able to provide on our own.
- We will do our best to provide up-to-date information and charges for these services.
- Some services are provided to the credit union by authorised third parties to help us with processing or for compliance and regulatory reasons. These may warrant the disclosure of more than just your basic contact details. You agree that personal information held by the credit union may be disclosed on a confidential basis, and in accordance with the GDPR 2018 (and successive Acts and amendments), to any such third parties for this purpose.
Discussion of Your Account by a Third Party
- You can authorise us to communicate with a trusted third party regarding your account, for example, to interpret information into BSL or another spoken language. This must be authorised in writing and does not give the other person permission to carry out transactions on your account, unless you have specifically authorised them to do so (see 28).
- You can authorise another person to operate your Account. You will need to provide authorisation in writing. You can also do this by signing a power of attorney but you should take legal advice before doing so. If you authorise another person to operate your account then you will be responsible for their actions or omissions as if they were your own.
- It is the account holder’s responsibility to ensure that they seek appropriate advice where necessary.
Pausing payments, minimum balances, and dormancy
- We understand that at times you may wish to reduce the amount that you are saving or even stop payments altogether. Please call us on 01670 522779 as soon as possible (some payment methods require notice) and we will help you to do this.
- Maintaining an account requires that a minimum deposit of £5 is held in your membership account.
- At the discretion of the Board of Directors, member accounts that persist in violation of minimum shareholding requirements may be closed and any remaining balance transferred to the property of NCB.
- An account becomes ‘dormant’ when there have been no transactions for twelve months or more.
- We pass the cost of servicing a dormant account to members by way of an annual fee. When the balance reaches zero, the account will be closed.
- At our discretion we will take steps to find members whose accounts are dormant so that we can pay them any balance held. We will take any costs incurred (e.g. of using a tracing agency) from the amount paid.
If you are concerned about loan repayments
- Please get in touch as soon as possible, by phone on 01670 522779 or by email to email@example.com if you think that you won’t be able to keep up with your repayments. The sooner you do this, the more likely it is that we’ll be able to find a way to help you.
- Failure by NCB to follow any of the procedures set out herein shall not invalidate the remaining terms.
- You must let us know of any changes to your contact details as soon as you can (including address, phone number and email address). You can do this by contacting us or via the Members Area on our Website www.northumberlandcommunitybank.co.uk
- Postal statements for your accounts with NCB are issued annually. Additional statements can be requested at any time. There may be a small charge to cover the cost of additional postal statements.
- You can choose how you wish to be contacted when you open your account or change your preference at any time by contacting ourselves or changing your details via the Members Area.
- We have the right to offset any amounts you deposit to any of the accounts you hold with us against any amounts you owe to us. This means that we have the right to (for example) to move money from your Share account to pay loan arrears, or other amounts which are due.
- For more information about NCB’s products, please visit our website, contact us on 01670 522779 or email firstname.lastname@example.org.
Account closures and withdrawal of services
- A member may leave the credit union at any time without penalty, providing no debts are outstanding.
- Any children’s accounts for which you act as trustee may be moved to the control of an active member or closed, as preferred.
- As a private membership organisation, we have the right to suspend or withdraw services at any time from any member who does not abide by our Rules (in spirit or letter), or if we suspect fraudulent activity.
- Our staff, both paid staff and volunteers, are here to help you and have the right to go about their work safely. We have a zero tolerance policy on abusive language and behaviour and will not hesitate to withdraw membership from anyone who makes them feel threatened in any way, regardless of the intent.
Use of your information
Changes in Terms and Conditions
- We reserve the right to adapt or amend these Terms and Conditions at any time.
- Our staff and volunteers work hard to provide members with a high-quality service. Should we fall short, please let us know and we will try to put it right. If you are still not satisfied, you can use our Complaints Procedure.
- Complaints about any aspect of our service can be made in person, by post, or by email. More information can be found on our website and our Complaints Procedure is provided on request.
- If you wish to make a complaint in writing, you should address it to: The Complaints Officer, Northumberland Community Bank, 65 Station Road, Ashington, Northumberland, NE63 8RX.
- If you wish to speak to someone regarding your complaint, please call us in the first instance on 01670 522779.
- We are a member of the Financial Ombudsman Service, so you can ask them to look at your complaint, provided you have tried to resolve the matter with us first.
- Contact details for the Financial Ombudsman Service are: The Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London, E14 9SR.
Northumberland Community Bank Limited trades from its registered office at 65 Station Road, Ashington, Northumberland, NE63 8RX.
Its telephone number is 01670 522779, and its email address for general correspondence and enquiries is email@example.com.
Northumberland Community Bank is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, registration 214298.
Northumberland Community Bank is covered by the Financial Services
Please call 01670 522779 to discuss loans with a member of our team.
Alternatively, please select what would you like to do next…
“Financial wellbeing is a huge contributor to overall wellbeing. We’re therefore proud to be working in partnership with Northumberland Community Bank, giving our people access to affordable services and the right financial information. We want our people to feel supported as well as enabling them to have choice of a safe and trustworthy place for their savings.”
Ross Smith, Partnership Manager Northumbrian Water
“We are delighted to be working with Northumberland Community Bank as a Payroll Partner. We know that healthy management of an individual’s finances can at times be a source of anxiety for working adults, so it’s important to us that we are able to give our staff access to appropriate financial support that is both ethical and efficient – which is exactly what Northumberland Community Bank offers.”
Kelly Angus, Deputy Chief Executive and Executive Director of HR & Organisational Development, Northumberland County Council
“Northumberland Community Bank’s payroll deduction scheme has proved popular with Bernicia staff who like its simplicity. It’s an easy and regular way to save and the ethical nature of the community bank – knowing how it supports people at times of need with affordable financial help – complements our work with local people and communities.”
Jeannie McMillan, Bernicia Director of Housing Services.
“We opted to work with Northumberland Community Bank as our Payroll Partner in order to help improve our employees’ financial wellbeing and allow individuals to feel more secure about their finances. The Bank offers flexible loans as well as encouraging individuals to save. This has been particularly important during these difficult and unprecedented times.”
Jane Warburton, HR Manager RENOLIT Cramlington
“NCEA believe in inclusiveness and supporting a culture of learning success and this threads into enabling our staff to access ethical financial services: in making the right choices for a safe place for savings and affordable loans.
The payroll deduction partnership with NCB helps support our staffs Employee Assistance Programme service and engages not only our staff to talk about financial wellbeing but to reach into their families and communities in which they live …Financial wellness is a key element for aspiring communities…”
Alison Alden, Director of Finance and Central Services NCEA
“We are proud to be a Payroll Partner of Northumberland Community Bank. Creating a savings culture is at the heart of financial capability and as such is something, we at Citizens Advice advocate and support both across Northumberland and importantly within our own organisation”
Abi Conway, CEO Citizens Advice Northumberland
“Finances can have a huge impact on health and wellbeing, something which is extremely important to us. We’re proud to be working in partnership with Northumberland Community Bank to support the financial wellbeing of not only our colleagues but also our wider community. The partnership helps us to promote a savings culture and provide a safe and affordable option for people to seek help should they need it. The offer has been very well received in our organisation and our membership continues to grow.”
Judith Stonebridge FFPH. Consultant Public Health, Northumbria Healthcare NHS Foundation Trust
“Inspired Outsourcing is thrilled to be working with Northumberland Community Bank. We champion financial health and believe that this partnership will encourage positive money management, saving and ethical lending. We’re excited to begin our journey!”
Sinead Linsley, Brand & Communications Manager