Smart Money Cymru Community Bank

Smart Money Cymru Community Bank: a credit union for the Welsh community

Smart Money Cymru Community Bank is a credit union operating in Wales, serving its members with savings and loan services. The organisation presents itself as the fastest-growing community bank in Wales and offers its services to those residing in the country. It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under FRN 213370.

Loans for members: up to £7,500 and decreasing rates

Smart Money Cymru members have access to a range of exclusive loans of up to £7,500. According to the organisation, the larger the amount borrowed, the lower the interest rate applied. The loan offering includes the following types:

• New Member Loan
• Personal Smart Loan
• Consolidation Loan
• Christmas Loan
• Payroll Loan
• Smart Family Loan
• Credit Builder Loan

The organisation states that new applicants may be eligible for loans of up to £500 and that, once the conditions are met, additional loans may be granted up to a maximum of £1,000. Approval is subject to affordability checks and full terms are provided on application.

Council Tax Debt Relief Scheme

Smart Money Cymru offers an interest-free debt relief scheme aimed at residents of Blaenau Gwent and Newport who are in arrears with their council tax. The programme spreads the debt into affordable monthly instalments to help those affected get back on track.

Savings and financial services for members

The credit union makes savings accounts and online and mobile banking services available to its members. Among the tools and services it mentions are:

• Online Banking and Mobile App
• Savings Accounts
• Smart Payroll Savers
• Smart Pennies Savings
• Downloads

It also offers budgeting support and financial tools such as savings, mortgage, pension, redundancy pay and credit card calculators, as well as a debt advice locator, among others.

History: since 1989 in south Wales

The organisation began operating in October 1989 as the Penyrheol, Energlyn and Trecenydd Credit Union, working from St. Andrews Church. In 1993 the volunteers moved to Energlyn Hospital and in 1995 they received their first computer as a donation from Caerphilly and District Council. In 1998 the first paid member of staff was employed. In 2000 the common bond area was extended to cover the whole of the Caerphilly Basin and in 2001 the first purpose-built office opened in Clive Street, Caerphilly. In 2002 the extension to the Rhymney Valley was approved. In 2005 the credit union moved to Winsor Street and by October 2006 it employed its fifth member of staff and had extended its area of operation to the whole of the Caerphilly County Borough. Smart Money Cymru Credit Union Ltd was formed in July 2008 following the merger of Caerphilly & District and Blaenau Gwent (Save-it) Credit Unions.

Branch network in Wales

Smart Money Cymru has several branches in Wales, including Caerphilly, Blackwood, Tredegar, Llandrindod Wells, Aberdare and Newport. The organisation also offers the possibility of arranging appointments with staff at some of these offices.

Recent activity and publications

The credit union's website features news and events such as guides to managing finances at Christmas and starting university, wellbeing days, the appointment of Jeff Cuthbert to its board of directors, the holding of its annual general meeting and Tredegar Town Council's support for the local community, among others.

Locations and premises

Caerphilly branch: 64-66 Cardiff Road, Caerphilly, Caerphilly, UK, CF83 1JQ

Blackwood branch: Credit Union Building, Wesley Road, Blackwood, Caerphilly, UK, NP12 1PP · Phone: 02920 883751 · Email: info@smartmoneycymru.co.uk · Hours: Tuesday and Friday 09:30 to 14:00

Tredegar branch: Aneurin Bevan House, 40 Castle Street, Tredegar, Blaenau Gwent, UK, NP22 3DQ · Phone: 02920 883751 · Email: info@smartmoneycymru.co.uk · Hours: Monday and Thursday 09:30 to 14:00

Llandrindod Wells branch: Oasis Centre, Spa Road, Llandrindod Wells, Powys, LD1 5ER · Phone: 02920 883751 · Email: info@smartmoneycymru.co.uk · Hours: Thursday 11:00 to 13:00

Aberdare branch: Hwb Cana, Gwladys Street, Penywaun, Rhondda Cynon Taff, UK, CF44 9DE · Phone: 02920 883751 · Email: info@smartmoneycymru.co.uk · Hours: Wednesday 10:00 to 12:00

Newport branch: Newport Central Library, Local Studies room, Newport Central library, Newport, NP20 1PA