February 12th

BRIDGEND CREDIT UNION LTD

This month I became a regular saver with the Bridgend Life Savers Credit Union Ltd. Credit Unions are financial co-operatives offering members an easy and convenient place to save and access to low cost loans. They work by encouraging members to make regular contributions into savings accounts which create a central pool of funds. The funds are used to provide loans back to the membership at favourable rates.

The main office is in Sarn, but the Credit Union provides collection points in Pyle, Kenfig Hill, Bettws, Aberkenfig, North Cornelly, the POW Hospital and Evergreen Hall in Bridgend on regular days throughout the week. This valuable service is offered to everyone - business people, families, employed or unemployed, young people or those who have retired.

With problems of debt growing, and some people with no alternative to high interest loans to meet a family crisis, the staff of the Credit Union are able provide help to local people.

President  Brian Rees and Vice President Diane Paul, their staff and volunteers, are passionate about the services they provide including a savings service for children, which encourages them to start saving early.

Credit Unions are regulated by the Financial Services Authority (FSA) and provide the same level of protections as banks and building societies.

Leaflets are available describing the services available and members receive regular newsletters giving updates on what is happening at the Credit Union locally. For more information ring Brian or Hebah on Bridgend 729912.