A local Assembly Member has visited the Cambrian Credit Union team to learn more about how recent changes are allowing them to reach more people in North Powys.
Russell George, Assembly Member for Montgomeryshire, visited credit union staff this week (Monday 30th April) at Welshpool Library.
In agreement with Powys County Council, the Cambrian Credit Union, which trades as Cambrian Savings and Loans, serves its members from the libraries in Welshpool and Newtown.
Open from 9.30am – 1pm, the credit union operates three days a week (Tuesday, Thursday and Friday) at Newtown Library on Park Lane and two days a week (Monday and Wednesday) at Welshpool Library on Brook Street.
The Credit Union offers services including instant access adult and junior savings accounts, personal loans and the Engage Pre-Paid Card and provided almost 3000 small loans to people across North and Mid Wales in the last financial year.
After meeting with the General Manager and staff of the Cambrian Credit Union, Mr George said:
“I was delighted to meet with the staff of the Cambrian Credit Union again to learn more about how new arrangements are supporting the people of Mid Wales.
“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.
“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.”