Gateway Credit Union Reaches 25 Year Landmark

Thursday 25 January 2024

Gateway Credit Union is celebrating 25 years of providing ethical savings and loans to communities across Torfaen, Monmouthshire and the surrounding areas. Set up in Trevethin near Pontypool, Gateway Credit Union has grown to over 4000 members and holds more than £3 million in savings.

Now serving members online and by phone as well as face-to-face in Pontypool, Cwmbran, Chepstow and Abergavenny, and with an expanding team of staff and volunteers, Gateway has plenty to celebrate in its silver anniversary year.

General Manager, Sara Burch explained: “The ethos of a fair, friendly and community-run savings and loans co-operative, putting the member first, informs everything Gateway has achieved over the past quarter of a century.

“The credit union differs from other high street financial organisations because we put people first. That has been the basis of our success and despite the many changes of the last 25 years continues to be our primary focus.”

Founder members Rev Brian and Paula Pippen started a steering group in 1994 after recognising the impact that high-cost payday lenders were having on the lives of people in the community. The Credit Union was registered in November 1996 and opened for business in February 1997.

“Local residents were falling victim to loan sharks and doorstep lenders, and we knew that something had to be done to try and help them by offering ethical ways to save and borrow,” Rev Brian Pippen explained.

“Since then the credit union has gone from strength to strength. We’ve invested in new properties, improved IT systems, more staff and have grown to establish ourselves in Monmouthshire on an equal footing to Torfaen.”

Gateway has a whole range of partners offering savings and loans for staff direct from pay, including Torfaen and Monmouthshire County Councils, Aneurin Bevan Health Board, housing associations and private businesses including Robert Price Builders merchants.

“As we celebrate 25 years of helping people financially, we look forward to the future with renewed optimism and excitement for what lies ahead,” Sara added. “With the closure of so many high street financial institutions it is our aim to build on  the reputation of Gateway Credit Union and encourage even more people to become members and access our ethical and fair financial products.

“With the cost of living rising, there are thousands of families in our area who would be better off as Gateway members”