Credit Unions (1)

Meeting: 
MQT on 2014-11-19
Session date: 
November 19, 2014
Reference: 
2014/4571
Question By: 
Valerie Shawcross
Organisation: 
Labour Group
Asked Of: 
The Mayor
Category: 

Question

Does the GLA family allow staff the chance to join a credit union by the device of payroll deduction?

Answer

Answer for Credit Unions (1)

Answer for Credit Unions (1)

Answered By: 
The Mayor

The GLA established an arrangement with what was originally known as Southwark Credit Union (now London and Mutual Credit Union) in July 2005. From that time all GLA staff and Assembly Members have had the opportunity to be members of LMCU with deductions made via payroll.  Currently there are 10 staff using the service. 

Over 2100 members of LFEPA staff have a payroll deduction for contributions to the National Fire Savers Credit Union.

MOPAC does not currently specifically offer staff the chance to join a credit union by the device of payroll deductions. However, the PCS Union (recognised by MPS and MOPAC) runs its own credit union for its members.

The MPS does allow staff the chance to join a credit union and payroll deductions can be made for the following:

•             Copperpot Credit Union

•             Police Credit Union

•             Police Mutual

•             MetFriendly Society

•             Thrift and Saving Clubs in various boroughs

TfL does not provide a direct payroll deduction to a credit union. However, TfL staff are able to become a member of a credit union through joining trade unions such as PCS, RMT, Unite and Unison.