We understand the demands employers face when trying to introduce new initiatives. We also believe in empowering businesses to support their employees’ financial wellbeing with solutions that are simple, impactful, and entirely free.
That’s why we’ve streamlined launching our Workplace Savings Scheme, Chorus, so you can offer a valuable staff benefit that enhances your employees’ financial wellbeing in as little as three hours.
That’s right – in just three hours, your business can set up Chorus so your employees can save money and repay loans directly from their wages. It’s simple, effective and best of all, it’s completely free.
What is a Workplace Savings Scheme?
A workplace savings scheme, like Chorus, allows employees to save and repay loans directly from their salary. Employers deduct the chosen savings amount or loan repayment through payroll and transfer it to Wave Community Bank.
Why is this important? Payroll saving enables employees to build financial resilience, offering a practical solution for emergency expenses or future savings goals. Plus staff repaying loans through payroll this way benefit from lower interest rates being charged on their loans.
By partnering with Wave Community Bank, you also ensure your employees are safeguarded against loan sharks and other predatory financial practices, reinforcing your commitment to their financial security. This positions your business as a supportive and ethical employer.
Set Up in Just 3 Hours – No Hassle, No Cost
Many employers worry that introducing a payroll savings scheme will require significant time and resources. This simply isn’t true! We’ve eliminated these barriers. With Chorus, you can implement this valuable benefit in as little as three hours.
Here’s how simple it is:
1 – Reach Out to Us
Complete our enquiry form, and we’ll get in touch to answer your questions.
2 – Learn About the Scheme
We’ll arrange a call to explain how Chorus works and talk you through how we get you onboard. You’ll also receive our Employer Guide to walk you through the process.
3 – Sign up
We will provide you with a Service Level Agreement that explains what you can expect from us and what your team will need to do to make the scheme run smoothly. Our finance team can meet with your payroll team to discuss the process for collecting and transferring payments.
4 – Launch Chorus
We will work with your HR team to tailor the campaign to launch the scheme to your staff. We can provide the right marketing materials for you which can include flyers, posters, intranet copy and presentations at staff meetings or events, in person or online – or anything else that is right for your business.
Once setup is complete, your payroll team will need to process the payroll deductions each month and your HR team will work with us to promote the scheme on-going so we can help your staff to benefit from Chorus.
Why Choose Wave Community Bank?
Wave Community Bank is a not-for-profit credit union with a mission to support financial wellbeing across East Sussex, Brighton & Hove, Kent, Medway, and the London Borough of Bexley. We are proud to already partner with 31 organisations – ranging from small businesses to large employers across various sectors – helping them provide this unique and free employee benefit.
Here’s why employers trust us:
- Completely Free Service: Introducing Chorus won’t cost your business a penny.
- All-Inclusive Support: We provide tailored promotional materials to ensure employee engagement.
- Dedicated Account Officer: You’ll have a single point of contact to guide you through setup and answer any questions and support you at all times.
- Ethical and Secure: Your employees’ savings are protected under the Financial Services Compensation Scheme (FSCS), and they can gain access to affordable loans.
Benefits of Chorus for Employers
Implementing Chorus is a simple, cost-free way to support your employees’ financial wellbeing while boosting your business’s reputation and workplace culture. Here are some of the key benefits employers can enjoy by partnering with Wave Community Bank:
- Completely free to set up and run—no hidden costs or fees.
- Position yourself as an ethical and caring employer.
- Reduce staff stress and absenteeism caused by financial concerns
- Strengthens employee engagement and retention by offering a meaningful benefit.
- Enhance Corporate Social Responsibility (CSR) by promoting financial inclusion.
Get Started Today
With Chorus, you can implement a powerful staff benefit in just three hours. It’s free, easy, and tailored to your business’s needs. All you need to do is take the first step by filling out our enquiry form.
Wave Community Bank will handle the rest, ensuring your team can start saving and building financial security right away.
Start today and see the difference in your workplace tomorrow. Three hours of your time to get this setup will make a lasting impact on your employees during their whole employment with you. Together, let’s empower your employees for a brighter financial future and make financial wellbeing accessible to all.