Support for Credit Union 

United Welsh Housing Association has made a firm commitment to support the valuable work being done by the Caerphilly and District Credit Union. An agreement has been signed by both organisations stating how assistance will be provided by United Welsh to raise awareness of the Credit Union and help to increase membership.

Peter Laing, Chair of United Welsh said: “Credit Unions have an important role to play in our communities and United Welsh is delighted to be offering this support. Caerphilly & District Credit Union offers a great service for people looking to open a savings account and to borrow money at competitive rates. We’ve been working closely with Caerphilly & District Credit Union for some time and making this partnership more formal will really help to raise awareness of the service and increase membership.”

Support will be provided to develop marketing campaigns and financial inclusion initiatives in order to raise the profile of the credit union and encourage more local people to save. In addition, two United Welsh employees have been appointed to the Board of Directors.

Credit Unions offer an important alternative to people looking the save and borrow money. They are not for profit organisations and exist solely to serve their members. A dividend is paid to members annually on savings and all Credit Unions are regulated by the Financial Services Authority.

Ken Chamberlain, Secretary of Caerphilly & District Credit Union said: “We really welcome this offer of support from United Welsh and look forward to planning initiatives together that will increase membership. We currently have over 2,500 members who enjoy a very competitive financial service. For as little as £2 people can start saving. The Credit Union provides great saving opportunities, advice on developing a savings habit, and access to low cost loans.”

If you would like to know more about the Caerphilly & District Credit Union please contact 029 2088 3751 / E-mail: Caerphilly@creditunion.fsnet.co.uk

June 2008

Peter Laing, Chair of United Welsh, and Ken Chamberlain, Secretary of Caerphilly & District Credit Union signing the Service Level Agreement (SLA)