Gateway Credit Union Reach £3million Saving Milestone


Gateway Credit Union is celebrating a major milestone as its members’ savings accounts have reached £3 million for the first time.
The landmark moment came after 22 years of offering ethical savings and affordable loans across Torfaen and Monmouthshire.
Established in 1997 in Pontypool, Gateway Credit Union has continually grown with the opening of further offices in Cwmbran, Abergavenny and Bulwark near Chepstow along with outreach sessions in various locations, and school savings clubs.
This month the collective savings accounts of its 4,200 members finally exceeded the £3million mark.
General Manager Sara Burch explained: “This is an important moment in the history of our community-run savings and loans co-operative because it stands as a testament to the support of our members over so many years.
“We always put them first which is how we differ from other high street banks and its that level of personal service that makes our members loyal to the credit union cause.
“Our staff build relationships with members which is particularly important when deciding on loan applications, for example, as we treat them as individuals and not as some computer scoring exercise.”
Gateway Credit Union offers Christmas savings, junior accounts, school saver clubs, bonds, family loans, payroll partner accounts, the Change Account pre-paid debit card and community accounts for groups and societies alongside a range of loans from just £50 to £10,000.
They also have a wide range of payroll partners including Torfaen and Monmouthshire County Councils, health boards, housing associations and private businesses ranging from the Celtic Manor resort to a local builders’ merchants.
Gateway Credit Union works with a number of schools by offering saver schemes which helps develop a young person’s financial knowledge, learn the benefits of saving and help improve numeracy skills.
Celebrating the success Nick Thomas-Symonds MP said “I warmly congratulate Gateway Credit Union on reaching the remarkable milestone. Gateway is a key part of our local community – the credit union model, with its goal of not making money from its customers, is precious and such an important part of our financial sector.”
Lynne Neagle AM added: “It is brilliant to see the Credit Union growing from strength to strength. Gateway is a lifeline to so many people and I would like to thank the staff and volunteers who have enabled the Credit Union to reach this £3 million mark”.
For further details visit www.gatewaycu.co.uk, telephone 01495 742500 or email info@gatewaycu.co.uk

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