The British Credit Union Historical Society

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Llanelli and District Credit Union Limited

Registered 27/11/1998 and are now trading as Save easy since august 2014.  In 2001 A CREDIT Union Development Grant Fund award of £90,000 over a three-year period to enable Llanelli Credit Union to take its service directly to people’s doorsteps in a scheme entitled ‘Savers’ Friend’. The £30,000 per year available through the grant was to be used to employ one full-time and three part-time staff to run a pilot scheme of Llanelli’s ‘doorstep’ credit union service. Taking the service to the people instead of having them come into an office.  The thinking was if you want to make inroads, you have to take on some of the marketing characteristics used successfully by other organisations. The aim was to reconnect with members and increase the portability of credit union services. Operating from premises in the town centre was convenient for some people, but not so for certain sections of the community. Many of those who live on large housing estates rarely go into town, possibly because they are elderly, infirm or have difficulty making travel, arrangements. So, because they could not get to the office they went to them. To launch the 'Savers’ Friend' scheme, Llanelli CU targeted the former coal mining area and two wards that were included in the 100 wards recently identified by the Welsh Assembly as needing extra funds for regeneration.

 

The Credit Union acting as an agent went into business acting up by two and a half percent over the selling price as an agent for a local warehouse shopping service offering shoppers far more competitive terms that those previously available. The FSA gave the go-ahead for this addition to Llanelli CU s portfolio of services. This development not only helped the credit union business, but also benefit buyers. Warehouse shopping had existed in Llanelli for many years, with shoppers receiving an account card through a local agent enabling them to purchase goods from the Swansea-based JT Morgan warehouse. Enhancing its business in this way gave Llanelli CU another ‘string to its bow’, keeps the credit union concept alive and helps to provide a really good offering to members.

http://www.saveeasycreditunion.co.uk/

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