FairQuid - Empowering Employees
Around 70% of working adults don't have savings to meet unexpected costs. This statistic is what drove us to a partnersnip with local firm WEC Group to help make saving as easy and accessible as possible for their workers.
From this partnership FairQuid was born. FairQuid's goal is to help employees become financially fit by enabling them to easily access local savings accounts, encourage saving whilst borrowing and improve overall financial wellbeing.
FairQuid rolled this scheme out nationwide, working with various credit unions and their own local employers. Across Blackburn with Darwen this means the scheme is now available through ourselves to staff of WEC Group, Blackburn with Darwen Borough Council, Blackburn YouthZone and Heritage Envelopes.
Workers from these employers can apply for a savings account with JTCU through FairQuid. The easy-to-use online platform means workers don't need to worry about applying for membership around their working hours; applications can be submitted whenever works best for them. Workers can then set their own savings goal through the platform - either starting off small to build a rainy day fund or building up to bigger goals. Savings are deducted straight from your wages and sent to JTCU via the payroll department.
