Council staff to be offered low-cost loans to prevent debt worries

PUBLISHED: 11:00 09 May 2017

The scheme aims to make it easier for people to manage their debts.

The scheme aims to make it easier for people to manage their debts.

Newnow

People working for councils are in the top 10 professions nationally for using expensive payday loans - but North Somerset Council has signed up to a new initiative which it hopes will reduce the financial worries of its employees.

The authority has agreed to implement a new employee benefit scheme which helps staff get out of debt faster.

Agilisys – a private company which delivers some council services – will introduce SalaryFinance for the authority’s employees. It will mean they can consolidate existing debts into one low-cost loan, which will be collected directly from payroll.

The scheme will not cost the council any money, but a director’s decision notice says there is a negative link between people who are worried about their personal finances and their productivity at work, which this scheme hopes to tackle.

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