At Serve and Protect Credit Union, we’re proud to support those who dedicate their lives to serving and protecting Britain. Our members include employees and retirees from the police, prison and probation, the armed forces, the fire and rescue service, the NHS, private healthcare services, and their families.
We understand the unique pressures and challenges that come with working in the public sector. That’s why we go beyond simply providing savings accounts and affordable loans. We’re here to help our members build lasting financial resilience through good financial habits and education, ensuring they feel supported through life’s ups and downs. Because when individuals are financially secure, it creates stronger, more productive workplaces.
In February 2025, we surveyed 5,599 of our members to better understand their financial resilience and the challenges they face. The results have shaped our 2025 Financial Resilience Report, where we’ve explored key themes around financial vulnerability. By shedding light on these trends, we aim to work closely with employers and members alike to tackle these issues head-on and create stronger financial futures for all.
You can find the full report at the bottom of this page. This article explores key findings from the report, casues of financial vulnerability within the UK public sector, and solutions to tackle financial vulnerability.
Why are our members particularly vulnerable?
The employees we serve in the emergency services and armed forces often face unique challenges that can make them more financially vulnerable. Irregular working hours, deployment, and the potential for work-related physical and mental health issues are prevalent across the public sector services we support.
Such factors can affect our members’ ability to maintain a stable income, manage their work-life balance, or make long-term financial plans. Additionally, periods of high stress, health issues, or sudden deployments can disrupt their financial stability, leaving them more vulnerable to unexpected financial pressures.
Financial vulnerability within the public sector can have a significantly higher impact to public safety than other employer-bases. These roles often provide access to restricted information, equipment, or networks which can be exploited. The emotional and physical toll of these jobs amplifies the pressure when financial struggles arise, and this distress can make employees in trusted roles more susceptible to making unethical decisions.
Key findings
To introduce the findings from this year’s survey, we have outlined some of the most impactful statistics below:
- 47% of respondents said they could not cope financially with a change in circumstances such as relationship breakdown, unemployment, or sickness.
- 17% of respondents said they have skipped or delayed paying bills in the past 12 months due to a lack of funds.
- 19% of respondents find themselves frequently running out of money before their next payday.
- 22% of respondents admitted they are reliant on overtime to meet their financial needs.
- 24% of respondents have been denied a financial service in the past.
- 19% of respondents often or always feel stressed about their financial situation.
A lack of financial resilience
Financial resilience can be described as an individual or household’s ability to overcome financially stressful events. Often unexpected, this could be a health issue experienced by an individual or loved one, job loss for someone responsible for providing financially for the household, or the breakdown of a relationship.
Building financial resilience is not just about the ability to survive one of these sudden financial setbacks. It involves maintaining financial stability and bouncing back without causing long-term financial damage. One of the best ways of doing so is building emergency savings. It is suggested that individuals should aim to have enough saved to cover three to six months of essential outgoings.
A worrying number of respondents admitted they would not be able to cope financially if one of these events were to happen to them, suggesting a lack of financial resilience. Saving via salary deduction with the credit union is a proven method to build accessible but ‘sticky’ savings to turn to in an emergency. Although it takes time to build these savings, starting a savings habit early in our members’ career can give them the best chance of overcoming financial shocks later on.
Living pay check to pay check
From our survey, we found that almost 1 in 5 respondents frequently run out of money before payday. This can create significant financial stress, leading to distractions and decreased job performance, damage to their mental health, and reduced overall workplace morale. When employees face financial insecurity like this, they often have to make difficult decisions about prioritising bills, which can result in delayed repayments or even skipping bills entirely.
17% of respondents said they have skipped or delayed paying bills in the past 12 months due to a lack of funds. This is particularly worrying, with timely repayments being crucial for maintaining a good credit score. Delaying or missing payments can negatively impact both personal finances and long-term financial health. One of the biggest factors contributing to this issue is inconsistent income. Respondents who had an inconsistent income were 2.5 times more likely to have skipped or delayed paying a bill. For these employees, it’s much harder to predict and manage expenses, which can lead to financial insecurity and even further debt problems.
Over 1 in 5 respondents said they were reliant on overtime to meet their financial needs. This reliance was more prevalent in some sectors, with 43% of respondents in the fire and rescue service reporting they depend on overtime. 38% of those working in the NHS and private healthcare said they also rely on overtime to make ends meet. Reliance on overtime can exacerbate feelings of stress, a lack of financial resilience, increased financial vulnerability, and challenges managing regular expenses.
Access to financial products and services
With many of our respondents admitting to living pay check to pay check, they may need to rely on credit to manage unexpected expenses. However, we found that almost a quarter of respondents had been denied credit in the past, adding another layer of financial strain and less confidence in accessing financial products in the future.
This lack of confidence can exacerbate financial vulnerability, leading to greater reliance on high-interest loans or other costly credit options, further limiting their ability to improve their financial situation. This points to the importance of financial inclusion, which is a key aim for credit unions, ensuring those who need it most have access to responsible and affordable financial products and services. There is also a need for support systems that help employees to access these products and services without the added stress of rejection.
Become part of the solution
At Serve and Protect Credit Union, we understand that every workforce faces unique challenges, especially when it comes to financial wellbeing. That’s why we partner with employers across the police, prison, military, fire, and health services to provide tailored support where it’s needed most.
One way we do this is through our free financial resilience surveys, like the one used in our 2025 Financial Resilience Report. These surveys offer valuable insights into the financial challenges your colleagues might be facing, helping you take meaningful steps to support them. From there, we can help you refine your employee wellbeing strategy to build financial resilience throughout your workplace.
If you’re ready to make a real difference, get in touch with us today and discover how we can work together to build financial resilience for your people.
- The information provided is for guidance and educational purposes only. Serve and Protect CU does not offer regulated financial advice. Please seek independent financial advice.
