Refurbished credit union branch reopens after merger

A credit union branch has reopened its doors in Blackwood following a refurbishment.

Smart Money Cymru has reopened the former Islwyn Credit Union branch on Wesley Road after a merger between the two credit unions last year.

The branch will be open on Tuesdays, Wednesdays and Fridays.

Smart Money Cymru already has branches on Cardiff Road in Caerphilly, as well as in Tredegar.

Following the merger with Islwyn Credit Union, Smart Money Cymru merged with the Plaid Cymru Credit Union last autumn.

The expanded credit union has more than 7,000 members.

Last year, it celebrated its 30th anniversary. In that time it has grown into a sophisticated organisation offering a wide variety of financial services to individuals, businesses and charities. 

Chair of Smart Money Cymru, Alun Taylor, said: “We are delighted to be reopening the Blackwood office to serve the locality once more. Customers will now find an improved premises, with access to a wider range of financial services through the Smart Money Cymru network.”

“Credit Unions offer a wider range of financial services than many people expect,” said Mr Taylor. “The credit union philosophy is to be financially sympathetic to its members and offer fair and reasonable access to finance and financial services where possible.”

He said credit unions have a “flexible and collaborative approach” to lending to their members.

Mr Taylor added: “We have a broader, more sympathetic policy which looks at the individual circumstances of potential borrowers. Lending decisions are not based on credit ratings alone, but on a wider financial picture.”