More and more people are saving with our Community Bank – and as a thank you we are tripling the dividend you get each year when you keep your money with us.

Smart Money Cymru Community Bank (SMCCB) is a safe home for your precious savings, and is backed by the UK Government’s FSCS scheme which guarantees up to £85,000.

And as well as keeping your money safe, this year we are able to offer a higher dividend of 0.75%  on your money, one of the best returns you will find anywhere.

SMCCB has its origins in the Credit Union Movement, which began in order to give communities, particularly in industrial areas, the security of belonging to strong financial institutions and access to fair finance. In this sprit, we support your savings with free life insurance.

If a Member dies, we will double their savings up to a maximum of £5000 to pay for the funeral or to provide an inheritance for their nearest and dearest. Outstanding loans will also be covered by insurance should a Member pass away.

Keeping your savings in a local organisation benefits the community as well as the individual saver. Rather than creating profits for remote shareholders, we put money back into the system for our Members, and this year we are delighted that we are able to afford this higher dividend.

An essential part of the role of a community-based not-for-profit  financial institution such as ours is to strengthen and reinforce the local economy. Lending to our members means that  funds tend to be spent locally , and so wealth is safeguarded within the area, instead of flowing out.

As a not-for-profit institution, owned by its members, we endorse the concept of the ‘circular’ economy for building businesses and supporting local employers.

And while our customers are saving more with us, the number of Members we have is steadily increasing and stands at over 8000 who benefit from being able to access their money and financial services at three well-appointed and well-staffed branches in Caerphilly, Blackwood and Tredegar.

Looking ahead we are planning to build on our access by continually improving the services we offer. This will mean a better software platform, a new debit card, faster decisions on loans and many other changes we have planned.

Smart Money Cymru Community Bank is here to give local people better and fairer financial services and we look forward to continuing to work with local families and individuals to enhance the quality of their lives. If you’d like to know more, pop into one of our three branches or look us up online at: www.smartmoneycymru.co.uk.

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