Cambrian Credit Union calls on FCA to go further with rent-to-own cap

Cambrian Credit Union has welcomed a decision by the Financial Conduct Authority (FCA) to reduce the cap on rent-to-own interest rates, but says the regulatory body should go further. The credit union staged a protest in Rhyl earlier this month warning shoppers of the high interest rates charged by rent-to-own companies. General manager of Cambrian Credit Union said: “We welcome the news of a ... [More]

£5.4m investment will be a ‘game changer’ for Wales’ Zero Waste ambition

Community recycling groups across Wales have welcomed a  £5.4m ‘shot in the arm’ from Welsh Government. Eifion Williams CEO of Circular Economy Wales (CEW) CIC welcomed the investment and said the schools programme in particular could be a ‘game changer’ in Wales quest to become a Zero Waste nation by 2050. Eifion said: “Social Enterprises working in our communities across Wales are experts ... [More]

Three Cardiff employers honoured at Credit Unions of Wales Awards

Three major Cardiff employers have received Credit Unions of Wales Awards for helping to improve the financial health of their workforce. Cardiff Council, Cardiff Bus and the Cardiff-based offices of Legal & General were honoured for supporting the welfare of their staff by encouraging them to access a range of affordable financial services from their local credit union. All three ... [More]

The Credit Union difference

Suzie Chetri, director of legal and compliance for Alcumus Group is one of a growing band of professionals who was offered a financial lifeline by a credit union. Suzie, who is originally from Neath and a graduate of Cardiff University, found herself in mounting debt as a young solicitor. “As a student from a working-class background, I financed myself through university,” Suzie explained. ... [More]

Five interest-ing tips to avoid a financial hangover

Thinking of taking a loan to pay for Christmas? The Credit Unions of Wales have put together five tips to help you avoid a financial hangover in January: Check the term of the loan: Low weekly repayments may seem affordable, but check how many weeks, months or years you will be making those payments. Check the total amount paid: The longer you borrow for, the more interest you pay! APR ... [More]

One in six in Wales at risk of unmanageable debt

People in Wales are more susceptible to over-indebtedness than any other country in the UK, with 440,000 at risk of being unable to keep up with credit repayments. More than one in six people in Wales are at risk of being unable to keep up with credit repayments, according to figures from the Money Advice Service. In the lead to the most expensive time of year, Christmas, and to mark ... [More]

Abakhan opens in Altrincham

Leading fabric, yarn and crafting retailer Abakhan is set to open its latest UK store in Altrincham, near Manchester this month (June).   The two-storey shop will include a range of crochet yarns and accessories, alongside dressmaking, soft furnishing and quilting fabrics, including the end of line and remnants that the store has become famous for stocking.   Upstairs there ... [More]

The credit union difference

As Valentine’s Day gets closer, members of Cambrian have been sharing what they love about their credit union, and it’s quite frankly humbling, says Chris Kay. People often ask what’s the difference between a bank, a building society and a credit union. On the face of it we’re pretty similar and all offer savings and loans. Like banks and building societies, any savings in a credit union are ... [More]

Cambrian Savings & Loans helps mum get back in the driving seat

A mother from Blaenau Ffestiniog is warning people to take care when buying a car through credit after her own purchase went disastrously wrong.   Vickie Harris bought a car on finance for £6,500 so she could travel to work, but when it burst into flames she was left paying back the loan even when she didn’t have a vehicle.   The mother-of-two, who originally comes from ... [More]

Fundraiser marks retirement with challenge of a lifetime

While retirement usually means time to take things easy, Sylvia Jones from Llandudno plans to mark her final day at work hurtling through the air at 70 mph with a high-flying fundraiser for Wales Air Ambulance.   Sylvia, who has worked with accountancy firm Williams Denton since 1970, is being sponsored to take flight on the Zip World Titan at Llechwedd Slate Cavern on March 27.   There’s just ... [More]