Loans and Savings Abertawe (LASA) Credit Union Ltd was originally founded as ‘The Hill Community Credit Union’ in 1992. The Credit Union’s common bond covered the Townhill area of Swansea, and through the dedicated work of volunteers
(some of which are still part of the Credit Union today) it provided loans and savings accounts to the people of Townhill.
In 2002 the Credit Union expanded to cover all of Swansea, and became LASA (pronounced laser) Loans and Savings
Abertawe. The Credit Union was located in Cradock Street, Swansea until we moved offices in 2008 to Calvert Terrace. Although the Calvert Terrace office was in no way perfect, it was necessary to move to the premises as a cost-cutting measure, and prolong
the future of the Credit Union.
With the Credit Union in a positive position, in early February 2012, we moved premises to where we are currently located; 139 Walter Road. Our current premises are very much improved from the Calvert Terrace office.
Over the years we have been able to employ people to operate the day to day running of the Credit Union, however our Board of Directors remains volunteer led, and we still rely on volunteers in the office and in the community to help run the Credit Union.
As of March 2013 we have four paid employees and over thirty volunteers.
In April 2014 we are launching online account access for members who can check their balances at their convenience, request a withdrawal from their savings, or apply for a loan
through the ‘Members Area’ of the website.
We are also looking to offer Cash ISAs for the 2015/16 financial year.
In February 2016 the members agreed to change its name to "My Community Bank Wales"
A Is a trading name
of Lasa Credit Union (Loans and Savings Abertawe) Clase community school wanted to introduce a saving scheme for pupils to help in numerical skills and the importance of saving. Some of the pupils are trained as junior bankers and awarded a certificate in
junior banking. My community bank has grown out of a credit union called Brent Shrine Credit Union, which was first formed in 1979 to serve people living or working in the London Borough of Brent. Now an online Credit Union serving communities across
the UK. My Community Bank is one of the three credit unions which form the My Community Bank network covering England, Scotland and Wales. In 2013 the common bond was extended to include members and supporters of the “British” South Asian Community
across the UK. My Community Bank is as British as curry. Open nationwide to all who are members of associations concerned with the culture, cuisine, finance or welfare of the South Asian community in the UK. 2017/8 the common bond has been extended further
to cover anyone who is a member of Financial Education and Awareness. FEA is a new charity who aim to help people educate themselves in how to be financially responsible, independent and improve their financial well-being. The charity focuses on self-help
and learning to improve people’s financial well-being. membership of FEA is free and is open to the general public schools project. In September 2018 the credit union closed. The Financial Services Compensation Scheme (FSCS) has stepped
in to repay members of Loans and Savings Abertawe Credit Union (UK) Limited, which trades as My Community Bank Wales.