FairQuid

FairQuid is a financial wellbeing platform sold to employers as a workplace benefit. It aims to move staff away from persistent borrowing and towards regular saving, working with credit unions to deliver the funds.

What FairQuid offers

• Community Funds access — employees can borrow through partner credit unions, with eligibility judged on length of service and performance instead of a credit score.
• Save with a Purpose — savings goals that are taken from pay automatically, so putting money aside needs little effort.
• Saving while borrowing — a prompt shown when a loan is taken, encouraging the employee to start saving too.
• Personalised financial education — a learning platform tailored to financial personas rather than one course for everyone.

Who it works with

Employers in the UK who want to offer a financial wellbeing benefit to their workforce. The delivery partners are not-for-profit credit unions, whose borrowers become members.

Key facts

• Delivery partners: Credit unions
• Approach: Nudges and education aimed at changing saving behaviour
• Buyer: Employers, for their staff