LOCAL LABOUR POLITICIANS DISCUSS CREDIT UNION MOVE TO NARBERTH

Like many towns in Wales, Narberth is facing a future without a bank on its High Street.

Over the last few years, the HSBC, NatWest and Barclays have closed their doors forcing business and personal customers to travel to larger towns to access banking services.

The impact on small businesses has been widely reported, but Narberth Labour Councillor Vic Dennis and Parliamentary Candidate Marc Tierney are concerned of the impact bank closures will have on the less well off and those wishing to become savers.

In a bid to address the issue in Narberth, they have held a meeting with representatives of Save Easy Credit Union with a view to opening a collection point in the town.

Saveeasy Credit Union is a not-for-profit community-based financial co-operative that provides straightforward, affordable financial services.

Marc Tierney explained: “With the squeeze on household incomes tightening, and interest rates low, more and more of us are getting out of the saving habit.  Sadly, Narberth has joined a growing list of towns in Carmarthenshire and Pembrokeshire where there is no longer a bank or building society on the high street, bad news for business but also for those wanting to save and borrow money too.  I have been making the case to the Credit Union for a base in the town for some time and am pleased to be helping move this idea forward.”

Cllr Vic Dennis said: “We held a really positive meeting with Save Easy Credit Union who are keen to establish a base in Narberth in addition to their portfolio of offices in Pembroke Dock and Haverfordwest.  I remember Landsker Credit Union and the loss felt when it closed locally.  Save Easy has grown into an active Credit Union with a strong reputation across Wales, they will be a welcome addition to Narberth.”

Now the search is on for a suitable premises so that Save Easy Credit Union can establish themselves as quickly as possible.

Saveeasy Credit Union currently operates from four branches and numerous collection points within the Pembrokeshire / Carmarthenshire and the Ceredigion region.

Daniel Jones, from Saveeasy Credit Union said: “Where banks are currently closing their doors in many rural towns and villages, Saveeasy is opening ‘pop-up’ Credit Union branches to fill the void left within communities such as Narberth, which has no High Street bank facilities.

“We are also a strong alternative to high-interest doorstep lenders and rent-to-own stores. The provision of low-cost, affordable finance benefits the local economies within which we operate.”

If you feel your community could benefit from a ‘pop-up’ Credit Union or you are a community enterprise which wants to support the Credit Union movement in your area we would like to hear from you; please email janine@saveeasycreditunion.co.uk or daniel@saveeasycreditunion.co.uk