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]

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]

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]