- 18/10/2012
- Posted by: Mike Hedges MS
- Categories: Latest News, Press Releases
Swansea Assembly Member Mike Hedges is urging Swansea residents to join a Credit Union to celebrate International Credit Union Day 2012.
Thursday 18th October 2012 marks International Credit Union Day – a global celebration to raise awareness of the credit union movement.
At present, there are 22 credit unions covering the whole of Wales providing services to more than 55,000 adults and young savers.
Speaking about the benefits of credit unions, Swansea East AM Mike Hedges said:
“I’m proud to be a member of Swansea’s LASA Credit Union and urge local residents to sign up and take advantage of their benefits. They offer an accessible, low risk and easy place to save money, and give access to low cost loans. Many now offer other services such as ISAs, budgeting advice, insurance products and debt management.
“At a time where families in Swansea are saving up for Christmas, it’s important that people don’t feel forced to turn to unscrupulous loan sharks that charge interest at sky high rates and know that there is a viable alternative in the form of credit unions.”
Minister for Communities, Carl Sargeant added:
“As a member of a credit union you know that your money is safe and secure and backed by the Financial Services Compensation Scheme. Many people also like the idea of their money staying within their community to benefit their local area. In the current economic climate, it is more important than ever that people are able to access affordable financial services.”
