ATM attracts members to Dragonsavers
26 Aug 16
Dragonsavers Credit Union has installed an ATM to give the local community easy access to their cash.
The credit union, which serves anyone who lives or works in the County Borough of Rhondda Cynon Taff in South Wales, has set up the ATM at its main premises in Treorchy. A second free-to-use ATM is set to follow at their Tonyrefail branch in early September.
Giving members access to their money when they need it has always been a priority for Dragonsavers, and bank branch closures in the towns where Dragonsavers’ offices are based opened a new opportunity to attract community members and expand the credit union’s services.
Dragonsavers General Manager Christina Stoneman said: “The head office in Treorchy was like working from the safe house in Harry Potter – the only people who knew you were there were the ones that knew you were there!
“Having the free to use ATM installed has changed all that. We regularly have queues six or seven deep, which gives us plenty of advertising time to those waiting in line at our window”.
As well as providing an important service to the community by giving them a place to withdraw cash from their bank accounts free of charge, the ATM installation also helps strengthen the local credit union. Dragonsavers receives monthly commission on ATM transactions from the ATM operator, and its presence has the added benefit of raising the profile of the credit union with a valuable advertising opportunity on the high street.
Dragonsavers was established following the merger of the 5 credit unions in Rhondda Cynon Taff in 2003, and has since grown into a strong, independent, sustainable enterprise with a real community focus.
With members’ savings in excess of £2 million and loans worth around £1.6 million, Dragonsavers has been keen to build on its success to date by pushing membership growth, which had begun to slow down recently. The new ATM has proven a successful way of attracting local people to the credit union who might not have used any of its services before.