THE largest credit union in Wales has recently been formed through the merger of five unions in the County Borough of Rhondda Cynon Taff.
The credit union will cover the whole county and with assets in excess of £ 1 million and membership approaching 5,000 it is the largest one in Wales.
At an event in Treorchy officers of the five credit unions signed merger documents before handing their company seals over to the President of the Association of British Credit Unions (ABCUL) Richard Collier.
Following the seal signing ceremony the credit union's new administrative headquarters was officially opened by Councillor Brian Arnold Chairman of the County Council.
Welcoming guests to the ceremony President of the interim board of directors Ian Gylee said: "This day will long be remembered as a defining moment in the history of the credit union movement in Wales.
"We have today signed and sealed what is an exciting opportunity for the delivery of affordable financial services to everyone living or working within Rhondda Cynon Taff.
"Although it's been a long road and at times a heavy burden, the journey has seemed much shorter and the burden much lighter with the total commitment and vision of our past volunteers and our current 150 volunteers who need to be thanked for getting us here."
Cllr. Arnold added: "I congratulate you on your achievement, I share in your vision and applaud your drive and initiative but most of all I thank you for your total commitment to the communities of Rhondda Cynon Taff.
"Today is not only a celebration of what you have achieved but also an inspiration to the people in our communities as to what can be achieved when like minded people work together towards a common goal."
Richard Collier said: "ABCUL is pleased to see that this credit union is at the forefront of new model development placing a high priority on sustainable economic growth whilst remaining true to its clear social objectives."