Boost For Welsh Credit Unions

CARL SARGEANT DELIGHTED WITH £3.4 MILLION BOOST FOR CREDIT UNIONS IN WALES
Welsh Labour’s Alyn & Deeside AM Carl Sargeant has welcomed the Welsh Assembly commitment of £3.4 million to support the continued growth and sustainability of credit unions in Wales.
The funding, which includes £1.8million from the European Regional Development Fund, will ensure that credit unions continue to develop financial services that are available to all Welsh citizens during the next three years.
Following the announcement Carl Sargeant AM for Alyn & Deeside said;
“Credit unions offer an alternative safe and reliable way of saving and borrowing money, especially for people on lower incomes, I believe that they will have vital role to play within our communities over the coming years.”
Since 2000, credit unions in Wales have seen a five fold increase in members and assets. There are now over 43,000 members and 8,000 junior savers across Wales and assets rose from £4million to £21million during the decade.