CAMBRIAN Credit Union, the community bank, is opening a new service in Welshpool next month.

Following talks with Powys County Council the not-for-profit credit union announced the move in a bid to extend its services to the people of Powys.

They will be moving from their current offices in Newtown and working from libraries around the county.

From March 5 the credit union, which operates in North and Mid Wales, will run its services two days a week from Welshpool Library and three days a week from Newtown Library.

General manager of Cambrian Credit Union, Ann Francis, said: “We are delighted to extend our services and are particularly grateful for the support of Powys County Council for providing premises and principal librarian Kay Thomas who has worked hard to help set this up.

“As a not-for-profit, member-owned organisation, our aim is to help people save and access affordable loans within their community.

“We currently have a number of members in Welshpool and so it’s a huge step forward for us to bring services closer to them and reach out to potential new members.”

The social enterprise encourages members to save, as well as borrow.

It offers loans at fair and reasonable interest rates, taking into account what people can afford to repay.

Cabinet Member for Libraries at Powys County Council, Councillor Rachel Powell, said: “I am delighted that the county council’s library service was able to help the credit union expand their activities into Welshpool.”

“Credit unions provide a valuable service for residents and having their operation based in a library makes them more accessible and strengthens the role of the local library.”

From Monday, March 5, Cambrian Credit Union will be available between 9.30am and 1pm every Monday and Wednesday at Welshpool Library, on Brook Street.

It will also be available between 9.30am and 1pm every Tuesday, Thursday and Friday in Newtown Library, Park Lane, Newtown, SY16 1EJ.

Staff will be able to deal with inquiries, take loan applications, process cash and BACS payments.

n For further details visit www.cambriancu.com