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Credit union users 'to double'

The number of people using credit unions in Wales is expected to double over the next few years. The Welsh Government has pledged over £1m to support the work of the financial co-operatives.

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  1. Megan Boot

Growing support for borrowing from credit unions

There are calls for more families to turn their backs on payday loan firms and other expensive forms of finance, and use credit unions instead.

The financial co-operatives are predicting big growth as people look for cheaper ways to borrow money.

There are currently over 70,000 credit union members across Wales - and that number is expected to double by 2020.

Over the last year, their combined savings have risen 11 per cent to over £27m.

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