BANKING's champagne - and - canapes life style was shunned as Risca's credit union celebrated the opening of its new headquarters with homely tea and biscuits.

"The bosses of the big banks would probably arrive in Rollers" Mr Brian Warfield said. "I came in a six-year-old Nissan.

"We don't aim to compete with the big boys with their mortgages and high finance but we do have something very attractive to offer local people.

"The credit union movement is a charity aimed at small savers.

"You pay £1 to join and after you've had savings in for more than 13 weeks you can borrow twice your balance with a dividend at the end of the year.

"A lot of people find it useful for saving for holidays and Christmas and things like that."

At 72 Mr Warfield of Glasllwch Crescent, Newport is the oldest adviser on the mini-bank's books.

A retired plant engineer at Llanwern steel works he took up voluntary work after the death of his wife, Ann in 1999.

"I was looking for something to do. “ I saw an advert for the credit union movement in the Argus and went along to a training evening at Risca Rugby club for volunteers.

"First of all we set up in a local church hall and there have been a couple of moves but we feel that being in with the Citizens' Advice Bureau in Park Road is just right for us.

"We are approved by the Financial Services Agency but to be quite honest the person with thousands to invest isn't going to come here but go to one of the High Street banks.

"We are designed more for those with modest incomes.

"Our members are more likely to deal in hundreds of pounds rather than thousands but we feel that for the small saver and those who are looking for a cheap loan we're just the ticket."

Instead of marbled pillars, plush carpets and a subdued ambience of power and money the credit union is lodged with the CAB in a modest building with the library and senior citizens' club as near-neighbours.

"Which is handy since the CAB has information about us and some of its clients might also want to make use of our services" Mr Warfield added.

"The joy of this arrangement is that everyone who invests with us is a member and can have a say about how things are run.

"We do have to seek County Court Judgements but very rarely - only three in the last couple of years.

"When people realise we are treating them fairly they tend to play the game with us."