Ogmore Assembly Member Huw Irranca-Davies met with staff and volunteers of the Llynfi Valley Credit Union to mark annual ‘National Credit Union Day’ this year on Thursday 19th October.
Supported by the Welsh Government, credit unions provide a safe alternative to high interest and payday loans which can see people paying APR of over 1000%. They offer a responsible approach to saving, borrowing and financial management.
As a long-standing member of the Bridgend Lifesavers Credit Union, Huw Irranca-Davies AM stated: “All of my family are members of a Credit Union and I thoroughly recommend them as a way to responsible money management. They are a great example of communities working together and the majority of the staff are volunteers. It was good to meet up with John and his team to hear about their work and join them in supporting this year’s National Credit Union Day.”
Becoming a member and saving with a credit union is easy: you can save by making deposits to the credit union in person; by standing order; or at a local collection point. Some organisations also offer a payroll deduction scheme.
After hearing about the progress of the Llynfi Valley Credit Union Huw added: “It is encouraging to hear about the additional services the Credit Union is now offering. With a heavy focus on education and information, their ‘into schools’ projects are having an impact and helping students from a young age become better prepared to make important financial choices.”
To find your local Credit Union see: https://www.findyourcreditunion.co.uk