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Credit Union collection point opened in New Tredegar

Published in Business, News at 17:00, Monday February 24th, 2014.

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A new collection point for the Smart Money Cymru Credit Union has been opened at the White Rose Information and Resource Centre in New Tredegar.

The service, run by volunteers, offers people a range of financial services such as savings and loans.

The county borough is home to three credit unions offering savings facilities and low cost loans.

These are: Islwyn Community Credit Union in Blackwood, the BAG Credit Union in Aberbargoed and Smart Money Cymru Credit Union in Caerphilly.

Cllr Gerald Jones, deputy leader of Caerphilly County Borough Council, said: “I welcome this extension to the excellent range of services available at White Rose Information and Resource Centre, expanding the county borough’s network of credit unions and collection points in the process.”

• Plaid Cymru’s South Wales East AM Lindsay Whittle has called for the role of credit unions to be expanded. Mr Whittle said he would like to see credit unions able to loan money to help set-up small businesses.

He made the plea after tabling a question to the First Minister calling for an increase in credit unions across Wales. The AM said credit unions would not be able to provide a mass service in Wales unless they expanded their client base beyond high risk, small value lending.

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