At a time when banks have lost so much trust it’s great to feature a financial organisation that is actually making huge improvements to the lives of people in the Valleys. Dragon Savers Credit Union offer services based on the idea of fair interest rates and secure savings. And they are doing this by running for the benefit of their customers, instead of bonus chasing bankers.
Many lenders (legal and illegal) are exploiting the downturn to make profits from families who are struggling to pay the bills. But Dragon Savers provide a real alternative.
Customers are able to get help with financial emergencies, like when the fridge breaks down or buying essentials for a new baby. By lending at fair interest rates, even to people who may not have the greatest credit rating, Dragon Savers keep people out of the clutches of loan sharks.
They also offer a savings service, which allows customers to put a bit aside for things like Christmas or a school trip for the kids. The value of having somewhere secure and local to save will, unfortunately, be only too clear to people in Valleys who lost all their Christmas saving when Farepak went bust a few years back.
Christina from Dragon Savers told us that lots of people are unable to access bank accounts, perhaps because they’ve had financial problems in the past or can’t get to a branch. With these accounts now such a vital part of life it’s brilliant that credit unions are stepping up to provide this important service.
What we love about Dragon Savers Credit Union is the fact that they are keeping alive the proud tradition of people getting together to support one another in tough times. Whether through cooperatives, the unions, sport clubs, chapels or any number of other organisations, people in the Valleys have always shown a huge amount of community spirit and determination to built a better world around them. It’s fantastic to see these values on display at Dragon Savers. And we’re not just saying that in the hope they’ll lend us a fiver!
Find out more on their website.
P.S. The people at The Guardian were so impressed by the place that they sent a reporter up to make a film.