Ruth is a member who makes use of our workplace savings scheme, Balance, to build up her savings here at the credit union. She has been a member here for over 10 years! However, if you are new here don’t worry – getting your savings growing through your wages is simple and convenient.
How Ruth found us
Before joining our credit union, Ruth was no stranger to the credit union movement, At the time of joining Ruth was in a stable financial position however she faced struggles during COVID – this is something we can all relate to. “I just wasn’t managing my money properly”, At this time Ruth used her account here to see her back on the right track financially.
During a period of financial obstacles, Ruth came to us because she liked our low interest rates and the mobile messaging app that allowed her to communicate with us quickly.
When Ruth made the switch to Balance
At first, Ruth saved here through a standing order however, when she realised how convenient it was, she soon switched to using our workplace savings scheme to make deposits directly from her wages – “I think it’s easy, I don’t miss it”
Many of our members tell us how much they appreciate the simplicity of saving directly from their wages. A big factor is that they do not even notice the savings growing in the background. They are often surprised when they come to check or withdraw their savings and see how much they have built up.
The difference Balance has made
We asked Ruth if she thinks our workplace savings scheme has helped her save more – “It’s helped me to put myself in a position where I don’t have to borrow money – because I’ve got it in there, I can just withdraw a certain amount for the month”.
For Ruth one benefit of saving with is, is the fact we ask our members to stick to one withdrawal a month – this helps her to stay disciplined when saving. Knowing she only withdraws when she really needs it and with some thought to it, removing impulsive spending temptation.
Ruth also values the community aspect of being a member and she recommends us three of her colleagues too become members of our credit union.
“Every time I come into Fog Lane, I’ve been welcomed professionally by you all, you’ve all been helpful”
Ruths advice for others
She is in a better position financially compared to when she first joined the credit union. We wanted to hear her advice for those who may be saving for the first time.
“I use the word a lot, but self-discipline is going to help you. Invest in South Manchester Credit Union savings. Make that one of your first options.”
If you too want to start saving with our workplace savings scheme it really is simple, find out all you need to know here.
