Credit Unions COVID 19 Update

Credit unions have a long history of working to help their members during challenging times and are continuing to offer affordable finance, including to those economically vulnerable, during the crisis.

Most branches have remained open on a reduced hours basis, allowing some face to face appointments for the more vulnerable. People can access credit union services online, with loan applications and access to savings accessible via websites. Credit unions are particularly important for people suffering financial difficulties during the Covid-19 lockdown who may be at risk from high interest doorstep lenders or loan sharks, who we understand from the Wales Illegal Money Lending Unit are currently preying on vulnerable people. Credit unions provide affordable loans starting from £50, and as ethical savings and loan providers, they offer a far safer method of short-term borrowing. As not-for-profit, community banks that focus on responsible lending, credit unions will take care to work out what’s affordable for borrowers. In Wales there are 18 credit unions, offering savings and loans through local branches, and also online. More information about credit unions in Wales can be found at the following link https://creditunionsofwales.co.uk/

Where to find us

Llandrindod Wells Office

Unit 30
Ddole Road Industrial Estate
Llandrindod Wells
Powys
LD1 6DF

01597 822 191

Newtown Office

Plas Dolerw
Milford Road
Newtown
Powys
SY16 2EH

01686 626 220

Get in touch

Authentication

Cyflogwr Ystyriol / Mindful Employer
Charity Quality Standard Logo
PQASSO Level 2 Logo
Investing in Volunteers
Quality in Befriending