- October 8, 2014
- Posted by: Mark Drakeford AM
- Category: Spotlight on Cardiff West
Spotlight on: Cardiff & Vale Credit Union
A column profiling organisations based in or working in Cardiff West
Cardiff & Vale Credit Union have recently opened a new information point in Radyr in our constituency, in partnership with Christ Church Radyr and St. John’s Danescourt.
Cardiff & Vale Credit Union originally began as South Glamorgan County Council Staff Credit Union in September 1996. As the name suggests, the original credit union provided services exclusively for employees of South Glamorgan Council, but over the intervening years other community credit unions have been incorporated and the name changed to Cardiff & Vale Credit Union. Today, they have over 7,000 members, with an equal split between members who join through a payroll scheme with their employers, and members who join directly.
Unlike banks, the only shareholders of Credit Unions are their members who save with them, and any profits made are used to provide variable rate dividends to their savers, and to invest in the development of services. Many – like Cardiff & Vale Credit Union – are actively involved in their communities, and are committed to contributing to the local economy and the financial wellbeing of all their members.
Cardiff & Vale Credit Union have offices open Monday to Friday at the Advice Hub in Cardiff and at 21 Holton Road in Barry, and also have information points across both counties, including the new Radyr point.