VOLUNTEERS from a credit union appeared at St Mary’s Church in Brecon to educate residents about saving at a 70th anniversary celebration.
The Brecon & District Credit Union were explaining to visitors at the church on The Bulwark why they should consider starting an account last Thursday. The union, which is based on Steeple Lane in the town does a lot of work in the community such as running savings clubs in schools and teaching the public about financial literacy.
Board member Jackie Bull said: “Today is partly a celebration because it’s been 70 years of credit unions. There are now 89,000 credit unions in 117 different countries and we are one of those.
“We started in 1995 in Brecon. It’s a non-profit making organisation. It’s run by members for members. It’s simple and affordable loans, so members pay into the credit union and then they can borrow from it, which is other member’s money. It’s like ethical banking – you won’t get interest (rates on savings) like ours from a bank.”
The credit union, which charges a discretionary £4 joining fee, will offer an account to anyone whether they’re employed or have a poor credit rating.
The credit union showcased the results of their school visits on an information board at the church.
Volunteers have been giving pupils, and teachers at some schools, red piggy banks with savings books to help them keep track of their savings.
The union has said it’s helping children to learn the value of money, while also learning how to budget and save. Any money saved by the pupils is deposited into each child’s newly set-up junior savings account, and a receipt is issued to parents.
The children, who get small rewards such as stickers when they save money, are able to withdraw the money at a later date with their parents consent.
The Brecon & District Credit Union, which is run entirely by volunteers, is looking for new volunteers for roles such as financial advisors, web developers and administrators to help input data.