A campaign to make Blaenau Gwent the first ‘Credit Union County’ in Wales has taken an important step forward.
A new Credit Union ‘champion’ - Blaenau Gwent councillor Jules Gardner - has been appointed, a role which aligns with his council brief to combat low living standards.
The plan is to boost membership substantially, and in the longer term to enlist half the adult population of the county borough as members of the community bank.
As traditional financial institutions continue to close branches, locally based community banks and credit unions are seeing their memberships grow.
With this in mind, Blaenau Gwent County Borough Council and Smart Money Cymru Community Bank have teamed up to spread the word that banking is available to all and they are working together to increase membership.
Smart Money already has 2,055 members in the area as well as 14,000 in South and Mid Wales.
Cllr Gardner is confident this can be greatly increased as people come to understand the benefits of joining.
Smart Money chairman Alun Taylor said: “Our long-term aim is to have half the adult population of Blaenau Gwent signed up as Members of a Credit Union or Community Bank as is the case in other countries, and we believe this is possible. We and the Council are firmly behind this policy and will be working hard to spread the message."
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