SaveEasy Credit Union opened its doors for the first time last Friday in a welcome boost for the town of Narberth and the local economy.

The boost comes after the mainstream banks, HSBC, Barclays, NatWest closed their branches leaving Narberth without any banks.

The credit union is a company that is a not-for-profit, community-based financial co-operative, that provides straightforward, affordable financial services.

Speaking at the launch, Labour Parliamentary candidate for Carmarthen West and South Pembrokeshire, Mr. Marc Tierney, said: “I felt it was really important that people in Narberth had a credit union at their disposal.

“They were able to come along, save some money, but not only that have the ability to borrow at a really good rate in the future.

“Lots of things have changed in the financial world in Pembrokeshire, all of the banks in Narberth have closed, which means for people wanting to save money, there is no obvious place in Narberth.

“The credit union offers a really simple way to save and really simple way to borrow.”

Mr. Tierney said that the opening of the SaveEasy pop-up branch in Narberth would give young people an opportunity to get on the savings ladder.

He added: “I really appreciate that SaveEasy Credit Union is working with schools in Pembrokeshire and beyond to encourage people to come along and start saving because it can be a positive habit for people to get into, saving money rather than spending money.

“Many people have ended up falling into debt as a result of simply having no access to cash and there has been some real financial hardship for people.

“I do hope that people will come and support Save Easy Credit Union because we fought hard to get them to operate in Narberth.

“In future and if we can get good local support, it could become a regular fixture on the high street.”

Pembrokeshire County Council’s member for Narberth, Clr. Vic Dennis, also expressed his delight over the SaveEasy credit union coming to Narberth.

“We’ve been in talks for a couple of months and really pleased that they’ve come back here.

“We’ve had a credit union in town before, that closed down some time ago, so it’s great to see that facility of savings and loans in town again.

“If they get loads of members here, hopefully we’ll see another business opening in the town.”

The pop-up branch will be at the Queens Hall, Narberth between 10 am and noon on Fridays.