Back in December 2012 the United Nations designated September 5th as the International Day of Charity, a day to recognise and contribute towards the efforts of charitable organisations and individuals across the world.
In particular the day marks the work of those fighting to combat poverty, which persists in all countries regardless of their economic, social and cultural situation.
Although the problem is more extreme in the developing world, a recent study by the Joseph Rowntree Foundation (JRF) shows that almost 700,000 people in Wales – nearly a quarter of the population – live in poverty.
The Credit Unions of Wales believe that we can be a part of the solution, by offering transparent financial products that put the customer first. We only charge interest on the reducing balance of loans (not the whole initial amount) and have no hidden costs like set-up fees, administrative charges or early repayment charges. Many of us offer free insurance on savings and loans up to £5,000.
And did you know that, like charities, many of the 21 credit unions across Wales rely on volunteers to help us provide our community-focussed service? Jenny from Newtown is a fantastic example.
Jenny helped set up Hafren Credit Union in Powys back in 1994 as a way of making friends after moving to the area from Ireland, where 70% of the population are credit union members. She still volunteers one day a week and has experienced lots of benefits from being involved with her local credit union, from becoming a part of the community to helping people avoid getting into trouble with payday lenders.
She said: “I can’t see me ever giving up volunteering and I think credit unions are such a worthy cause. I like what they do for local people and I think they’re a vital part of the community.”
Read more about Jenny’s story here, and if you’re interested in volunteering with a credit union you can find your nearest one on our website.
Are you planning on doing anything to celebrate the International Day of Charity? We would love to hear about your fundraising and good deeds, so please leave a comment on our Facebook page or tweet us @CredUnionsWales.
Credit Unions of Wales 