The Welsh Government has announced an additional £1.3 million to expand affordable credit options, helping thousands more people across Wales access fair financial services.
This new funding for credit unions builds on the successful loan expansion scheme established in 2022, bringing the total investment to £2.9 million. The scheme has already helped over 4,000 people access affordable credit who might otherwise have been turned away by mainstream lenders.
The funding is boosting credit union growth, alongside initiatives like Celtic Credit Union's new mobile branch service. Originally established in Neath, Celtic Credit Union has expanded its reach in recent years and the mobile service will bring essential face to face financial services directly to communities across Neath Port Talbot and Swansea.
The investment is part of Welsh Government's broader strategy to create a financially inclusive Wales, particularly supporting low-income households often excluded from mainstream banking.
For further information please select the following link: Wales’ first mobile credit union opens as Welsh Government announces new £1.3m funding boost | GOV.WALES
We know that escalating costs are a major challenge for businesses across Wales right now. That’s why we're working with our partners to bring together - all in one place - the practical resources and support needed to adapt and navigate the rising cost of doing business: Cost of Doing Business | Business Wales