Statement regarding failure of LASA Credit Union/My Community Bank Wales

RE: LASA Credit Union/My Community Bank Wales

The Financial Services Compensation Scheme (FSCS) has announced the failure of Loans and Savings Abertawe Credit Union Limited (also trading as My Community Bank Wales) which was declared in default on 29th August 2018.

We at Celtic Credit Union, Neath Port Talbot Credit Union and Swansea Bay Credit Union would like to stress that we are a totally separate business and are in no way connected to LASA Credit Union/My Community Bank Wales.

We would like to reassure our members and the wider public that our branch offices in Windsor Road, Neath; Station Road, Port Talbot and Portland Street, Swansea remain open and we are trading as normal.

We are a totally separate, well-established, self-sustaining, robust and growing credit union.  We have been in operation in Neath Port Talbot since 2005 and opened a further branch outlet in Swansea City Centre in June 2017 to support the communities in Swansea that need reliable credit union services.

We are more than happy to welcome any LASA members who may need our services and would invite them to visit one of our branches, call us on 0333 006 3002 or via our website

The failure of LASA/My Community Bank Wales does not affect the security of Celtic Credit Union or our members in any way.