Human Resources

Salary Finance and First Scottish University Credit Union

Details of First Scottish University Credit Union (FSUCU) and Salary Finance

First Scottish University Credit Union

The First Scottish University Credit Union (FSUCU) is a not-for-profit, member-owned, savings and loans cooperative created for university staff, by staff.

First Scottish provides their members with an easy way to save money every month through Payroll Deduction. A simple way to build up your savings bit by bit, you can save as little or as much as you like and access your funds at any time through your online account. Every member is also FSCS protected up to £85,000 meaning your money is safe and secure.

First Scottish also offers loans for when you need that little bit extra. Why not take advantage of their New Member Loan, which guarantees new members a loan of up to £1,500? Pay the loan back in affordable repayments over 12 months and every month a portion of your payment goes back into your savings account - meaning you save even as you borrow. Interest rates are based on how much you borrow, not your credit score meaning every member gets a fair deal.

Full details of how the credit union works, how to join and how to apply for a loan - including application forms - can be found on the FSUCU website at:

https://www.universitycu.org.uk/

Salary Finance

Salary Finance is third-party benefit provider that offers loans at affordable rates, savings accounts and gives access to budgeting and saving tips and tools.

 Salary Finance provides access to:

  • Employee loans: affordable loans repaid from your salary. A lower-rate loan could help to pay off any debts or cover an unexpected expense
  • Simple saving: savings accounts with Yorkshire Building Society with savings transferred directly from your salary
  • Financial education: a range of tips and videos to help you better understand your personal finances, as well as tools for budgeting and saving

For more information about interest rates and details of how to apply, please visit the Salary Finance website.

Salary Finance website

Important: This is an option, not a recommendation. University of Edinburgh does not benefit from offering this service and all your communications will be with Salary Finance. This content is for guidance and educational purposes only and is generic in nature. Salary Finance does not offer regulated financial advice. Please seek independent financial advice. Applications will be assessed to ensure the loan is appropriate and affordable for you.

 

Related links

Salary Finance

Salary Finance Loans - FAQ