This edition is about member recruitment via payroll deduction. How British and Irish credit unions, and others, have managed their journey into member recruitment via the route of employer participation. I have some excellent guests on the podcast and my gratitude goes out to them for giving up their valuable time freely in the middle of this pandemic.
We will hear from:
Credit unions have been using payroll deduction as a means of member recruitment since the earliest days. Many credit unions began life as an employee-based organisation designed primarily as a payroll savings and loans co-operative. Local authorities, and other large employers, often encouraged credit unions to grow in their midst and many of these credit unions have flourished. However, community-based credit unions have made good progress in attracting local employers to offer payroll deduction.
I spoke to some credit unions leaders making the most of payroll deduction schemes, and some that were seeking take up with small and medium sized enterprises organisations falling outside the traditional common bonds of the industrial credit unions.
I started by asking the payroll deduction company Salary Finance for their view on all this and their candid answers demonstrate that they are here to stay in this market.
Talking Credit Unions with Chris Smith is a regular podcast dedicated to informing credit union practitioners, leaders and opinion formers on variety of industry topics. To contact Chris Smith, smithowls@gmail.com