Credit union office opens in Deri View

Residents in who live near to Deri View Primary School can now join and make cash payments to the Gateway credit union.

A new credit union cash office has opened in the Acorn centre in the school and is being run by volunteers every Friday in term-time from 9.30-11.30.

A credit union works like a bank by lending money and helping people save, however, it is a cooperative and is owned by those who use it.

Sara Burch, Monmouthshire Development Worker for Gateway Credit Union, said: 

 "This new cash office will give parents at the school an opportunity to top up their savings while they happen to be at school to drop off their children. It's an easy way to make money go further.

"Gateway welcomes everybody - even people who may have difficulty using banks and building societies because they are not homeowners, aren't currently working, or have a poor credit history.

"Gateway runs a Christmas savings account as well as regular savings and loans, and many of the new members joining at the Deri View office are choosing to save for Christmas, or open savings accounts for their children."

Kelly Barclay, 26, is a parent at Deri View and works for the school's credit union office as a volunteer:

"Being a mum I feel I can relate to others and be approachable. In the past I've heard other mums sayings that someone is knocking on her door looking for money and I want to help."

Volunteers are trained to deal with basic cash transactions and then move on to taking loan applications and other processes.

The cash office at Deri View has a junior team too.  Kyla Davies, 10; Megan O'Farrell, 10; Rosie Boyce, 10; and Jade Bennett, 9, are part of a team of children who have been trained to run a collection point for children in the school.  They are using the skills they picked up working at the school's tuck shop to take money from children who want to save their pocket money.

John Richards, Credit Union manager, said:

"Gateway Credit Union keeps local money in the community and it's run by people you know.  It gives people pride and responsibility - people are empowered when they take control of their finances.

"We offer a range of savings accounts, Junior Accounts, Christmas Saver and Child Trust Funds, as well as our low cost loans."

Another Abergavenny collection point at the Communities First Resource Centre at 29 Hillcrest Road operates on Tuesdays, 12-2pm for cash deposits. Members can also save by standing order, cheque or PayPoint card.

Now that Gateway is able to welcome members from anywhere in Monmouthshire, Credit Union Manager John Richards is keen to hear from other community venues which would like to add a credit union service to their activities, and from people who would like to get involved.

Credit unions are run largely by volunteers. For more information contact: Gateway on 01495 750020; look on the website, www.gatewaycu.co.uk ; contact Communities First on 01873 853623; or pop in to 29 Hillcrest Road.