NEWPORT NorthWest Credit Union - a savings and loans society - is celebrating its expansion from Bettws across the whole of Newport city.
The group can now offer its financial products across the city in a move that has been welcomed by MPs and AMs.
Credit unions are run by volunteers and are not allowed to charge more than 1 per cent a month on loans.
Once a member has become a reliable saver, they are entitled to borrow.
Paul Flynn, MP for Newport West, pictured, said: "The best way to avoid the loan sharks and enjoy the credit that most families need is to use the safety and value offered by credit unions."
Val Delahaye, secretary of the board of directors of the Newport NorthWest Credit Union, said: "We are really excited we can now offer the advantages of a credit union to anyone living or working in Newport."
Funding to expand and employ staff is coming from the European Regional Development Fund and the Welsh Assembly.
Alan Howarth, MP, Newport East AM John Griffiths and Newport West AM Rosemary Butler also welcomed the credit union's expansion.
Contact 01633 822 224 for further information.
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