Marsden Building Society is pairing its Workplace Savings scheme with a community commitment, pledging 拢50 to the Red Rose Responding Fund for each of the first 100 businesses that register.
The scheme enables employees to put aside regular, post鈥憈ax amounts straight from their salary into a Marsden savings account. By weaving saving into payroll, employers can remove common hurdles and nurture positive money habits.
The impact can be felt across the workplace, with stronger financial wellbeing linked to improved mental health, fewer stress鈥憆elated absences, and a more productive, engaged workforce.
In parts of the north west where economic pressures are acute, employer-led initiatives such as Workplace Savings can help level the playing field and build long鈥憈erm resilience.
Through the scheme, the Society aims to help employees strengthen financial security and develop sustainable savings habits as they work towards long鈥憈erm goals.
The initiative follows research from the Money and Pensions Service (MAPS)*, which found that 17% of 海角视频 adults have no savings, while more than a quarter have less than 拢100.
Further research by YouGov** for the Resolution Foundation revealed that people with under 拢1,000 saved are almost three times more likely to describe their mental health as poor than those with over 拢1,000.
Rob Pheasey, chief executive at Marsden Building Society, said: 鈥淲e鈥檙e committed to improving financial wellbeing and helping people overcome barriers to saving. Our Workplace Savings scheme allows employees to put money aside before their salary reaches their bank account, encouraging good habits and financial security for the future.鈥
Kelly Court, programmes manager at the Community Foundation for Lancashire and Merseyside, said the initiative will help employees build savings and also support the Red Rose Responding Fund locally.
To support business customers, Marsden Building Society has appointed Jilly Bell to the newly created role of savings development manager.
Jilly has worked at the Society for 16 years, progressing from customer representative to branch manager at the Barrowford and Nelson branches. She brings extensive experience in customer relations and leadership to the role and will support the growth of the Society鈥檚 business鈥憈o鈥慴usiness (B2B) offering.
In her new position, Jilly will play a key role in expanding the Society鈥檚 reach through business partnerships and working with employers to implement the scheme, helping their workforce to develop healthier financial habits.
Commenting on the Workplace Savings scheme, Jilly said: 鈥淓mployers across the region have a unique opportunity to support their workforce by offering a Workplace Savings scheme through the Marsden.
鈥淲ith disposable incomes significantly below the national average, many employees struggle to build financial buffers on their own. Our scheme is designed to help employees start with small, regular contributions to make a meaningful difference to their financial resilience.鈥
Employers interested in joining the Workplace Savings scheme can contact the Marsden by emailing wpsavings@themarsden.co.uk to book an appointment.
For more information about Marsden Building Society, visit
*MAPS Research - November 2022
**M Broome, I Mulheirn & S Pittaway, Precautionary tales: Tackling the problem of low saving among 海角视频 households, Resolution Foundation - February 2024