City Save Credit Union Join Birmingham Businesses to Tackle Financial Exclusion

Thursday 30 October 2025

In a display of corporate commitment to community well-being, major Birmingham-based businesses have joined forces with Citysave Credit Union.

This employer-led initiative aims to build a more financially resilient city by tackling the cycle of living payday to payday and have signed a pledge to make Birmingham a City of Savers.

The initiative comes as new data highlights a complex challenge: high employment in Birmingham does not always translate into financial security. Average earnings of full time workers in Birmingham are £33,952 per year, below the UK average of £37,430*.

Many entry-level and graduate roles start closer to £25,000, while average house prices sit at more than seven times average earnings. In areas like Northfield, where employment rates are among the highest in the city, average annual gross pay still falls around £31,280, illustrating how strong employment can sit alongside ongoing deprivation and financial strain.

At a launch event on 9 October, three key employers, Birmingham City Council, West Midlands Combined Authority, and England Illegal Money Lending Team – BCC Trading Standards, formally signed the pledge. By signing, these businesses commit to offering Citysave membership as a free employee benefit.

“This is more than a pledge; it’s a movement,” said Sean Lynch, CEO of Citysave. “We believe everyone in our city deserves the chance to build a secure financial future, regardless of their income or background. By working directly with employers, we are removing the friction from saving and making it a natural part of working life.”

Richard Parker, mayor of the West Midlands, said: “City of Savers is … a simple, smart way to tackle in-work poverty by helping working people save money and feel more secure. This is about creating a more productive and resilient workforce and building a stronger, more stable economy for everyone.”

Katie Compton, HR project officer (staff benefits and EDI) at University of Birmingham, added: “We are proud to promote the ‘City of Savers’ initiative. The scheme provides a tangible benefit which will both encourage and support our employees to save.

“At the University we will be signposting our staff to the Savings plans available through City Save and we hope to be able to offer staff the facility to save directly from their pay into Citysave in the near future. This aligns with our commitment to support the financial wellbeing of our staff.”

Source – The Business Desk