Salary saver

From your salary, straight to your savings.

Whether you're saving for a rainy day or for greater peace of mind, payroll deduction makes it easier to put money aside regularly.

✔ 3.04% AER / 3.00% gross
✔ Save from as little as £1
✔ Easy access to your money whenever you need it
✔ Automatic deductions make saving simple

Build your savings with salary deduction

When bills and everyday expenses take up most of your pay, saving can feel difficult. Without an emergency fund, unexpected costs can leave you relying on borrowing.

Building a savings buffer can help you feel more financially secure. Even small, regular contributions can give you more options when unexpected expenses arise.

With Great Western Credit Union’s workplace savings, you can save from as little as £1 through salary deduction. Your chosen amount is automatically transferred from your salary into your savings account.

By setting money aside before it reaches your account, you can build a regular savings habit and gain greater confidence and control over your money.

Saving for your future and making you better off

Enter your employer to get started:

Found your employer?

Set up your account and begin saving for a better financial future.

Open a salary saver

Employer not listed?

If your employer isn’t partnered with us, don’t worry. There are other options you can explore:

Option 1: Refer your employer. Fill out a simple application form and we’ll contact your boss or HR team to set up the partnership.
Option 2: Browse our standard savings accounts to find a hassle-free way to save.

What is a payroll savings account?

A payroll savings account (also called a salary saver or salary deduction savings account) is a workplace payroll savings scheme that lets you build savings straight from your wages. It’s offered as a financial wellbeing benefit from your employer in partnership with GWCU.

For many of us, once bills are paid and expenses are covered, there’s not much money left. It's easy to fall into the cycle of borrowing money to repay previous debts or for the things they need. Having an emergency fund or savings in the bank breaks that cycle.

With automatic payroll saving, a portion of your salary is put into your savings account before you get paid each month. You set the amount and payroll does the rest. Month after month, your savings will grow, helping you feel calmer and more in control of your money.

Benefits of payroll deduction savings

While starting to save can be very difficult, it’s much easier with automatic deductions from your payroll.

Saving straight from your pay helps you:

build a regular saving habit
automatically put money aside before it’s spent elsewhere
save as much as you want every month – even as little as £1
grow your savings steadily, without having to remember

Learn more about the benefits of a salary savings account.

Suitable for savers who:

want to build their savings regularly through their salary

prefer easy access to their savings

want a competitive return, with a limited-time boost

like the convenience of managing their account online

want to save with a values-driven financial organisation

Not suitable for savers who:

already have an existing salary deduction savings account

are not an employee of a participating employer

are looking for a fixed long-term interest rate

want to manage their finances day-to-day

are not UK residents

Interest rate

3.04% AER / 3.00% gross

Easy access

This account is here when you need it most. Withdrawals are allowed with unlimited access.

Terms and Conditions

Read the full terms and conditions before applying.

Opening a savings account with GWCU

Are you eligible?

To begin saving with GWCU, you must meet the following criteria:

You must be aged 18 or over
You must be employed by one of our employer partners

Personal mobile phone number

We need this so we can contact you easily. It also helps you verify your account when you log into the member portal.

Personal email address

This is important so we can send your savings account documents to you.

Your national insurance number

This to prove your identity.

How to find your national insurance number.

Not sure if you have this information?

Get in touch

Ready to start saving with GWCU?

Let’s work together to make you better off.

Start saving

How do I start saving through salary deduction?

If your employer is one of our listed employer partners, you can simply apply for a savings account and let us know how much you’d like to save. We will sort the rest with your employer. You can check your balance and manage your account online anytime through the member portal.

Who can apply for a salary deduction savings account?

You can apply for a Salary deduction savings account only if your employer is one of our listed employer partners. If they are not listed, you can apply for one of our other savings products. Take a look at our other savings accounts.

How much interest could I earn after 12 months with regular monthly deposits of £100?

If £100 is paid every month for 12 months, the total deposited would be £1,200,

The total interest on the total deposited would be £16.63 at the rate of 3.04% AER

This means that the balance after 12 months would be £1,216.63

Can my wages be paid into a savings account?

Yes, a portion of your wages can be paid into a savings account if your employer is partnered with GWCU. Once you set up your account, you can choose how much money is automatically transferred from your salary each month. Check whether your employer is a listed partner.

If your employer isn’t a listed partner, refer your employer to us or explore other savings accounts we offer to help you start building financial resilience.

Can I withdraw from my salary deduction savings account?

Yes, your salary deduction savings account is an easy access account. This means your savings are there for you to withdraw and use at any time. You can transfer your savings whenever you need them through the Member Portal.

Keep in mind, transfers made before 2pm will arrive in your bank account the same day. Any transfers made after 2pm will arrive in your bank account the next working day.

If you need help making a withdrawal from your salary deduction savings account, you can read our step-by-step guide here

Can I make extra deposits to my payroll savings account?

No, you can't make extra deposits as we can only take payments from your payroll, if you want to increase your regular payment, just send us a secure message through the member portal.

How long does it take to open a salary deductions savings account?

Your salary deductions savings account is usually ready within 30 minutes of your application. If there is a delay, we will get in touch with you for further information within 24 hours.

What happens to my payroll savings account if I leave my job?

If you leave your job, your automatic salary deductions will stop and your account will be closed. We’ll move your money into an Easy Saver account. You can continue to save with us by setting up a standing order or through one of our other savings accounts.