TREDEGAR, South Wales, U.K.–A credit union here is part of a program that uses prepaid cards to keep residents shopping local.
Four businesses have signed up for the government-supported credit union scheme and community card.
Smart Money Cymru Credit Union, which opened in Blaenau Gwent, Caerphilly and Newport, opened up a new office and launched a community card in Tredegar in mid-September.
According to local media, Blaenau Gwent’s AM and MP and the Coalfields Regeneration Trust have backed the scheme, which hopes to bring more people to Tredegar High Street and increase members of the credit union.
The CU’s Smart Spend Reward Scheme project provides shoppers with a prepayment card that they can use at local businesses that have signed up to the scheme.
Shoppers with the card will get discounts and rewards for using their card at local businesses.
So far four businesses Pebbles Fashion, Body in Balance, Izzy Roos and the Europa Cafe have signed up following the launch of the project at Aneurin Bevan House in Castle Street.
Alun Davies AM said he would like to encourage everyone to join a credit union.
“The credit union is looking to support its members, not make profit off them,” said the credit union’s business development manager, Lucinda Gough. “At a time where financial groups are withdrawing from smaller towns we feel it is important to show our support and commitment to our members and the community. The Prepayment Card will improve the spending power of local people.”