incuto partners with Bradford District Credit Union to help employees boost savings

Monday 15 January 2024

Fintech organisation,  incuto  has announced its new payroll partnership with Bradford District Credit Union. The partnership will see incuto join a growing number of businesses and organisations which have signed up to help their employees become members and save money, as well as gain access to other ethical products and services from their local credit union.

As a payroll partner, incuto employees can now opt in to become members of the Bradford District Credit Union and automate payments into a savings account via payroll deductions. As Members they can also apply for loans that they can repay through their payroll deductions.

Over the past few years, incuto has been supporting BDCU with its 12 school savings clubs. These aim to tackle the ‘buy now pay later’ mentality in younger generations by helping them establish good saving habits at a young age. Schools are provided with a banking platform which allows pupils to become bank tellers for their fellow students.

Commenting on the new partnership, incuto CEO Andrew Rabbitt says: “As champions of the financial inclusion programmes offered by our credit union partners, it is only right that we ‘practice what we preach’ and offer our own staff an easy route into their services. I am thrilled to offer colleagues the opportunity to tap into Bradford District Credit Union’s products and services, as well as support the community by helping people on low incomes and benefits to access lower cost loans.”

incuto is a hosted banking technology platform which is transforming community banks and lenders into true challenger banks. By enabling ethical lenders to better serve their communities, update legacy technology, digitise their Member experience and improve access, incuto is driving better engagement and lending for credit unions and community banks, as well as tackling the ‘Poverty Premium’ whereby lower-income households pay more for finance.