Smart Money Credit Union

Smart Money Cymru was originally formed in October 1989 as Penyrheol and Trecenydd Credit Union and in 2000 the common bond area was extended to cover the Caerphilly Basin. The first office was opened in Clive Street Caerphilly in 2001 with a paid member of staff.

In 2002, the extension of the common bond included the whole of the Rhymney Valley. October 2006 saw the Credit Union employ its fifth member of staff and extend its common bond to cover the whole of the Caerphilly County Borough.

Smart Money Credit Union

Smart Money Credit Union Ltd was formed in July 2008 following a merger between Caerphilly & District and Blaenau Gwent (Save-it) Credit Unions and a further member of staff employed. In March 2010 the Financial Service Authority approved a further extension to cover the local authority area of Newport.

In July 2013 the Credit Union moved to purpose built premises on the high street in Caerphilly in order to become more accessible and grow further.

Smart Money Cymru has increased in size steadily , providing access to low cost finance to members within its common bond area.  (Live or Work – Caerphilly, Blaenau Gwent and Newport) and accordingly directly addressing financial exclusion for more people.

Caerphilly based Parent Network have 90% of their staff as new members of the credit union. The Parent Network is actively promoting good financial health in the community and has been working with the credit union for some time. 

The credit Union in 2020 has joined forces with Islwyn Credit Union (ICU) in Blackwood in a move to strengthen the not-for-profit credit union movement in the area and help members navigate these difficult financial times. The 850 members of ICU will see a seamless change-over giving them a wider range of financial services to call on.

The credit union has has expanded its membership further by merging with the Plaid Cymru Credit Union (PCCU). Caerphilly-headquartered. Smart Money Cymru (SMCCU) was specifically chosen by the smaller Undeb Credyd Plaid Cymru Credit Union as a new home for its membership. The range of services and products were attractive to the smaller credit union, in particular its move to offering more digital solutions for its members. 309 members have now transferred from the Plaid Cymru Credit Union and joined the 6,000 strong membership.

The credit union has celebrated 30 years of serving the community. In that time it has grown into a sophisticated organisation offering a wide variety of financial services to individuals, businesses and charities.

Since a relaunch following the Covid shutdown, Smart Money Cymru has made enormous strides. The Credit Union rebranded as a Community Bank and has invested in new digital platforms which has streamlined lending procedures and enhanced customer service.

Brecon & District Credit Union has joined with Valleys-based Smart Money Cymru Community Bank in a partnership which will expand and upgrade the financial and banking services on offer now that it is part of a much larger organisation with a total of some 9000 members.

Want to find out more?

Visit the Smart Money Credit Union website, or get in touch with their team:

Telephone – 029 2088 3751

Email –

Copyright British Credit Union Historical Society 2018 – All rights reserved

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