Credit Union

Meeting: 
MQT on 2019-06-20
Session date: 
June 20, 2019
Reference: 
2019/12246
Question By: 
Navin Shah
Organisation: 
Labour Group
Asked Of: 
The Mayor

Question

In response to my question (2019/6347):

  • What discussions TFL have had with the Metropolitan Police about advising their employees to join a credit union using payroll deduction services?

  • When will Transport for London offer payroll deduction services to join a credit union to its employees?

  • How many representations has the Mayor received about TFL allowing payroll deduction services from its employees to join a credit union?

Answer

Credit Union

Credit Union

Answered By: 
The Mayor

There have not been any discussions between Transport for London and the Met Police on advising their employees to join a credit union.

TfL has confirmed that it will review its position on credit union provision via payroll deductions by mid-2020. This is to allow for an ongoing review of its administrative functions to promote greater efficiency and affordability. 

Employees are already able to become a member of a credit union as an individual, or join via trade unions such as PCS, RMT, Unite and Unison. TfL provides financial wellbeing assistance directly for employees, including emergency loans, tenancy deposit loans and childcare deposit loans.