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This research was funded through the New Ideas Fund and undertaken by Sylfaen Cymunedol.

It considers the proposal that ‘Credit Unions are seen as the poor man’s bank, yet they do not reach the poorest’ and looks at how we can change this.

This research identifies a model for increasing the number of low income members within one specific community in Caernarfon, North West Wales. The model has been tested out with residents, community groups and agencies. It offers a template that can be adapted for other communities and groups.

This project confirms many of the findings within recent research publications and concludes that if the credit union is to compete with traditional high interest doorstep lenders they must prioritise the following features: Flexibility, Accessibility, Convenience, Social benefits.


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