If you're a Boom Community Bank member working for one of our partner organisations, you can start saving on your next payday. If you're not a Boom member, you'll need to join before you can start saving. You can find the list of employer partners below.
If your employer doesn't offer the scheme, you can fill out a short contact form to request a collaboration with Boom Community Bank. We will then reach out to your employer and provide information about the My Money Box scheme, aiming to make it available to all employees.
If you represent an organisation that wants to introduce the scheme, contact Boom Community Bank. Signing up new employers is a quick process, and once they agree to partner, a simple Service Level Agreement will be exchanged.
We take care of everything, making My Money Box light work for employers. It all starts and can be managed from the My Money Box employee and employer hubs.
Anyone wanting to join the scheme to save must first register, for free, as a Boom Community Bank member. We will provide them with a Boom account to receive their savings contributions. Joining Boom is straightforward; download our app and follow the steps to join as a new member, then return to the My Money Box Employee Hub to initiate savings.
After payroll deductions begin, employees can return to the Employee Hub anytime to change or stop their savings deductions.
Employers can return to the secure Employer Hub to contact us and administrate the scheme.
|Adur and Worthing Councils
|Reading Borough Council
|Runnymede Borough Council
|Anthem Schools Trust
|Seal Primary Academy
|Arun District Council
|Slough Borough Council
|Brighter Futures (Reading)
|Chichester District Council
|Crawley Borough Council
|Steyning Grammar School
|Guildford Borough Council
|Surrey County Council
|Sussex Community NHS Trust
|The Goodwood Estate
|International Logistics Group (ILG)
|University Hospital Sussex NHS Foundation Trust
|University of Reading
|Legal and General (Hove)
|Waverley Borough Council
|Mid Sussex District Council
|People's Partnership (B&CE)
|West Sussex County Council
|Woking Borough Council
|Portfield Primary Academy
Employees choose and control how much they want to save with My Money Box. By completing the form in the Employer Hub, they authorise their employer to deduct their chosen amount of savings from their pay and send it to Boom Community Bank every pay cycle. When signed electronically, the form becomes a Payment Deduction Authorisation.
A Deductions Register is updated to include every colleague's payroll deduction that the employer should make within the current pay cycle. The register is shared securely between Boom Community Bank and the Employer every month.
Boom Community Bank retains the Completed Payroll Deduction Authorisations and may be shared with the employer as proof of an employee's enrolment in the scheme; however, the employer is never informed as to the purpose of the deductions, enabling loans to be repaid in confidence.
Each pay cycle, Boom Community Bank sends the employer or payroll administrator an updated register listing all the individual staff deductions it should make in the approaching pay run. The employer transfers the net total of all deductions to the Community Bank in a single transfer, accompanied by remittance advice uploaded via the My Money Box Employer Hub.
Once the employer or payroll administrator has made a bulk deposit of the net amount of all employee deductions, it updates the register with any amendments. It sends it to Boom Community Bank by uploading it to the Employer Hub. Boom Community Bank reconciles the payment and distributes the funds into the participating employees' accounts.