The University of Birmingham has introduced a new payroll savings scheme for more than 10,000 members of staff, partnering with local credit union Citysave Credit Union to support financial wellbeing during ongoing cost-of-living pressures in the UK.
The initiative allows employees to save directly from their monthly salaries through payroll deductions, with the money deposited into a Citysave account. By setting aside funds before they reach personal bank accounts, the scheme aims to encourage regular saving and reduce reliance on high-cost credit.
The move comes after recent data from the Office for National Statistics showed that 26 percent of adults would be unable to cover an unexpected but necessary expense of £850. The same data indicated that 24 percent of adults reported borrowing more or using more credit compared to the same period last year.
As one of Birmingham’s largest employers, the university said the programme forms part of its wider commitment to staff wellbeing. Through the partnership, staff will benefit from preferential savings rates and access to a regulated credit union structure.
Kate Compton, HR Project Officer for Staff Benefits and EDI at the University of Birmingham, said the scheme is designed to provide practical financial support.
“Our new payroll savings benefit is about giving colleagues practical tools to feel more confident about their finances. By working with a local credit union like Citysave, we’re making it easier for staff to build savings in a manageable, sustainable way; whether that’s preparing for a major life event like a wedding or home move, or simply building a rainy-day fund.
“At a time when many households are feeling financial pressure, employers have an important role to play in supporting financial wellbeing. We want our staff to have access to fair, accessible saving options that help them plan ahead and make the most of their money.”
Citysave Chief Executive Officer Sean Lynch said the partnership reflects a growing recognition that financial wellbeing is closely linked to workplace performance.
“The University of Birmingham is one of the city’s biggest employers, and we’re proud to be working together to offer staff a benefit that can make a meaningful difference to their financial stability.
“Through our City of Savers initiative, we’re supporting organisations across the West Midlands who recognise that financial wellbeing is closely linked to job satisfaction, retention and productivity. Partnerships like this help strengthen not just individual resilience, but the wider regional economy.”
The payroll savings model aligns with a broader trend of employers integrating financial education and savings options into workplace benefits programmes.
Meanwhile, the ETIH Innovation Awards 2026 have opened for entries. The awards recognise education technology organisations delivering measurable impact across K–12, higher education and lifelong learning, with submissions assessed on evidence of outcomes and real-world application.
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