Clwyd West AM Darren Millar found out more about how credit unions can help people stay out of debt this Christmas when he met with Cambrian Savings and Loans, the largest credit union in Wales, this week.

Cambrian Savings and Loans, formerly North Wales Credit Union, offers savings and loans to the people who live or work in the counties of Anglesey, Conwy, Denbighshire, Flint, Gwynedd, Powys and Wrexham.

Unlike a bank or building society, a credit union is a non-profit-making money co-operative whose members can borrow from pooled deposits at low interest rates.

Cambrian Savings and Loans are keen that people don’t get into debt this Christmas and Darren is supporting their campaign ‘Say No to Debt Row’.

Darren said: “Cambrian Savings and Loans provide a wide range of practical, affordable and straightforward financial services and I hope in the run up to Christmas this year more people opt to use their services to help them stay out of debt.

“About 1.6m UK households are living in extreme debt, paying out 40 per cent or more of household income to creditors. Of this figure, the reports states that more than 1m are families with a household income below £30,000.

“Families can’t continue relying on credit cards and loans to get by. At a time of the year when retailers are gearing up for the festive spending season, I am urging the people of North Wales to avoid a debt sentence by considering using the services provided by Cambrian Savings and Loans this year.

“For further information about the credit union visit www.cambriancu.com<http://www.cambriancu.com> or call 0333 2000 601.” 033 0333 2000 601 3 2000 601

Picture Caption: Clwyd West AM Darren Millar with representatives of Cambrian Savings and Loans.