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New employer partnership for Smart Money Credit Union


13 Apr 18

Opportunity Knocks at Smart Money Credit Union (SMCU) as they have been working hard to promote financial inclusion as an approach to grow their membership.

As covered by ABCUL, Smart Money recently ran an employer event aimed at attracting employers to the payroll services they offer. Most recently the Caerphilly based Parent Network has joined the scheme with an fantastic 90% of their staff have joining the credit union.

Parent Network supports twenty associate groups across the Caerphilly Borough with over 200 members and 1200 followers on social media. 

Michelle Jones, Project Coordinator at the Network is pleased her staff has further support with their finances, she said: “Staff members feel that this is a good opportunity to save for Christmas, holidays and birthdays. It is also an opportunity for us to encourage a positive approach to saving across our membership in the borough."

The Parent Network is actively promoting good financial health in the community and has been working with the credit union for some time.  It has established an award winning social enterprise called "Petra Publishing" to promote books written by members of the Network.  The stories reflect the experiences of parents involved with the Network. Recently, a new book that raises awareness about the dangers of loan sharks was launched at a local Caerphilly School.

The 35 page picture book aimed at children in the 7-11 age group and was funded by the Wales Illegal Money Lending Unit and will be distributed to libraries and schools in Caerphilly.

Tracy Wallbank PETRA Coordinator said: "The message of the book is to try and break the cycle of borrowing from loan sharks. It encourages planning ahead and using credit unions like Smart Money Cymru Credit Union as an alternative."

The Parent Network holds regular PlaNet events to share information and collect parents’ and carers’ views to be used for the planning of services for families throughout Caerphilly.  Recently Andrew Davies from the Caerphilly Credit Union Project and Sarah ann Collier from Smart Money Credit Union were invited to speak at the event.

Andrew and Sarah delivered an interactive presentation on the benefits of joining a credit union, which was very well received by the fifty attendees.  At the end of the event, fourteen joined or requested information to enable them to open an account with their local credit union.

Ruth Bridge – Parent Network Forum Development says: "We are hoping that the Network can continue to work with Smart Money and other credit unions in the future to help encourage our members to think about the benefits of joining a credit union in Caerphilly Borough and Merthyr Tydfil".



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