Financial Wellbeing: support and information

Cambrian Credit Union: payroll saving scheme

Cambrian Credit Union: payroll saving scheme.

Denbighshire County Council have teamed up with Cambrian Savings & loans (external website) to offer our staff an easy way of building a nest egg or borrowing extra funds when you need them.

With the Moneyworks Wales (external website) payroll scheme you set the amount of money you want to put aside on a regular basis and this will be paid direct from your salary into your Cambrian Savings & Loans account. You can vary the amount at any time, and have access to your savings when you need them.

If you need a loan – perhaps for an unforeseen expense, to consolidate debts or pay for home improvements, Cambrian Savings & Loans offers a financially sympathetic service, with discounted loan rates.

Repayments are made directly from your salary, offering you peace of mind that your payments will be made on time.

Why join the scheme?

It’s an easy way to save for those little emergencies or for holidays, Christmas or a new car etc.
A small sum automatically deducted from salary builds up a nice nest egg without you noticing it.

Plus simple, flexible, affordable loans

Available when needed with flexible repayment periods to suit you.
Low, manageable interest with no penalties for repaying early.

To open an account:

Simply visit https://www.cambriancu.com (external website), choose “become a member” and download the mobile app from the App Store (external website) or Google Play Store (external website) to access our services.

To begin saving direct from your wages follow these instructions:

visit https://www.cambriancu.com/payroll (external website)
select your employer from our drop down list
download and complete the form then send to payroll@cambriancu.com with the amount you wish to save or pay towards a loan or even both

Are there any membership fees?

Every member of Cambrian Credit Union must keep £5 in their share account at all times. An annual membership fee of £3 is taken on the anniversary of joining the credit union.

Information and support

Denbighshire County Council works closely with the Money and Pensions Service (MaPS) in order to provide our employees with easily accessible information and guidance to help you feel secure and in control of your money.

The information below provides the links to the topics on the jointly run website, Money Helper, however there is a whole host of additional information that can also be found on there.

Cost of Living

Money Helper: Help with the cost of living (external website)

Money Navigator Tool

Here is a link to the Money Navigator Tool. The MNT has been developed to help people who have seen their finances impacted by Covid-19, by providing them with guidance personalised to their needs.

Money Helper: money navigator tool (external website)

Tools and Calculators

Here are some examples of the Tools and Calculators that Money Helper have available to support Staff:

These are just a small example of the tools that are available. You can find more at: Money Helper: tools and calculators (external website)

Child Trust Funds

Born between 1 September 2002 and 2 January 2011? You could have money in a Child Trust Fund waiting for you!

If you are between 9 and 18 years old, and your parents received Child Benefit, you probably have a Child Trust Fund. These are accounts that were introduced by the UK government to provide you with a pot of money when you reach 18. Find out more at Money Helper: child trust fund accounts (external website) and at GOV.UK: child trust funds (external website)

Baby costs calculator

It's great you’re expecting or planning on having a baby. Making sure your finances can handle a new addition to your family can be tricky. That’s where the baby costs calculator can help.

Money Helper: baby cost calculator (external website)

Baby money timeline

You’re expecting or planning on having a baby, which is great! It’s great you’re planning as well – it’ll make everything go much more smoothly.

Money Helper: baby money timeline (external website)

Help to Save

Help to Save is a type of savings account and allows certain people entitled to Working Tax Credit or receiving Universal Credit to get a bonus of 50p for every £1 they save over 4 years. Help to Save is backed by the government so all savings in the scheme are secure. GOV.UK: get help with savings if you’re on a low income (external website)

Clwyd Pension Fund

You will automatically join the Local Government Pension Scheme. The Local Government Pension Scheme is an excellent scheme and some of the benefits are listed below:

pensions for your spouse, civil partner, cohabiting partner for life
death in service grant which covers 3 times your annual salary from the day you join
a tax free lump sum of up to 25% of the total value of the benefits
early payments of benefits if you have to stop work permanently due to ill health
being part of the Local Government Pension Scheme meant that you paid a reduced N.I. rate. However, as of 6th April 2016, your National Insurance payment has increased to the normal National Insurance rate that is paid in all sectors - this is about 1.4% higher than was paid pre-April 2016.

If you have any queries regarding your pension please contact Clwyd Pensions on 01352 702761. Alternatively, please visit the Clwyd Pension Fund website (external website) or the Local Government Pension Scheme website (external website).

Teacher’s Pension Scheme

To find out more about teachers pensions at the Teachers' Pensions website (external website).