Responsible Business: Great Western Credit Union's Money@Work

Welcome to the Responsible Business series, dedicated to empowering businesses of all sizes to better support their employees. Through insightful conversations and expert advice from our members, we aim to provide you with the tools and strategies needed to make a positive impact. This month, we’re excited to feature Emily Woolin from Great Western Credit Union to share some information about Money@Work, their free financial wellbeing service.

Introducing Money@Work: A Responsible Business Approach to Employee Financial Wellbeing 

Why Employee Financial Wellbeing Matters 

In today’s workplace, financial wellbeing is more than a personal issue; it’s a growing business concern. The Money and Pensions Service defines financial wellbeing as “feeling secure and in control of your finances, dealing with the unexpected, and being financially resilient, confident, and empowered.”  

Yet many employees are far from that reality. Around 30% of UK workers say they couldn’t afford an unexpected £300 bill (CIPD, 2025) and a third worry about money every day (People Management, 2025).  

Financial stress is a key driver of absenteeism (frequent or prolonged employee absence from work, often due to stress, illness, or personal issues), which costs UK employers an estimated £3.7 billion annually (Aegon, 2023). It also impacts productivity, engagement and retention, with financially stressed employees being twice as likely to leave their job (PWC, 2023).  

Put simply, employers can’t afford to ignore financial wellbeing.  

Introducing Money@Work  

At Great Western Credit Union, we believe financial wellbeing should be at the heart of every workplace. That’s why we created Money@Work, a free financial wellbeing service designed to help employees build resilience, reduce stress and access fair, affordable finance through their salary. 

Available to employers across the South West, Money@Work offers simple savings and affordable loans through salary deduction, providing a practical solution for employees facing rising living costs, unexpected expenses or long-term debt challenges. 

It’s easy to implement and comes at zero cost, making it an easy win for businesses that want to support their employees and boost their financial wellbeing.  

How it works and why it matters 

Money@Work makes borrowing and saving easily accessible through salary deduction, empowering employees to take small, manageable steps toward improving their finances. Whether it’s consolidating debt, building an emergency fund, or simply having access to affordable credit in times of need, the service helps staff feel more in control of their financial future. 

And the benefits extend far beyond the individual: 

• Reduced absenteeism: 89% of HR leaders reported a drop in employee sick days after introducing workplace wellbeing initiatives, highlighting the tangible impact of supporting staff wellbeing (Make a difference, 2024) 
• Improved retention:  60% of employees say they are more likely to stay with an employer that offers a program designed to help them manage their money (Graystone, 2021) 
• Enhanced recruitment appeal: Financial wellbeing support is one of the most valued benefits by jobseekers, with 67% of employees aged 18 to 34 saying the high cost of living means benefits packages are more important when deciding where to work (HR director, 2025) 

Most importantly, offering a financial wellbeing service such as Money@Work shows employees that their organisation genuinely cares. 

Backed by impact 

Since launching in 2019, Money@Work has supported hundreds of businesses across the South West. This includes organisations such as Bristol City Council, Carbase, Curo and more. Over £4 million has been lent to employees in need of empowerment to break cycles of debt and build back financial confidence. Many users have also developed healthy savings habits through the scheme, which improves long-term resilience.  

By partnering with Great Western Credit Union, employers show that they’re serious about supporting their people, not just in words, but through meaningful action. Money@Work is more than just a staff perk; it’s a reflection of a workplace culture that values fairness, trust, and long-term wellbeing. 

If you're looking to reduce employee stress, improve retention, and show your commitment to responsible business practices, Money@Work offers a simple yet powerful solution. It helps build financial resilience at work, supports your employee wellbeing strategy, and enhances your reputation as a caring employer. Download the brochure here or get in contact today by emailing: hello@gwcu.org.uk 

If you'd like to follow Emily on social media, you can do so on Linkedin here, and more information about Money@Work or how to sign up can be found on their website. Also, if you are a Chamber member and would like to be featured in a blog just like this one, then you can get in touch with Amy.