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Credit union outreach praised

 
Created on 03/05/2018 @ 13:34
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An expanded service by a local credit union has been praised by Montgomeryshire AM, Russell George.

He visited the Cambrian Credit Union team to learn more about how recent changes are allowing them to reach more people in north Powys.
 
In agreement with Powys County Council, the Cambrian Credit Union, which trades as Cambrian Savings and Loans, has introduced a new service to its members from the libraries in Newtown and Newtown.
   
“With the support of Powys County Council, they are now operating from libraries in Welshpool and Newtown, allowing them to serve more people at a reduced cost," said Mr George.
 
“I hope that this will allow the Cambrian Credit Union to more easily serve the dispersed population of rural mid and north Wales. This is to be welcomed following recent closures of high street banks in rural areas of North Powys.
 
“Not only does the credit union help local people save an estimated £1 million compared to the cost of the same loans from typical door step or sub-prime lenders, it also supports the local economy by employing local staff as well as buying goods and services - ensuring that all of the money stays in the local community.”

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