Understanding Salary/Payroll Deduction on My Payslip

What You'll See on Your Payslip

When you set up salary deduction with London Mutual Credit Union, your loan repayments or savings contributions are automatically taken from your salary before you receive it. This convenient arrangement appears as a deduction on your monthly payslip.

How It Appears

The deduction will typically show as "London Mutual Credit Union" or "Southwark C U" in your payslip's deductions section, alongside other items like tax and National Insurance. The amount will match what you agreed when setting up your loan or savings plan.

Benefits of Salary Deduction

This method ensures your payments are never missed, helping you build savings or repay loans consistently. It also simplifies your budgeting since the money is automatically allocated before reaching your bank account.

Need Help?

If you have questions about your payslip deductions, contact us and we'll be happy to help.