Dear members and your families,
On behalf of the Board of Thamesbank Credit Union we would like to wish all our members, friends and followers the very best for the festive season and we look forward to providing fair and affordable financial services to many more people in 2023.
2022 has been another year filled with the uncertainty of “coronavirus” and, although things have improved thanks to the “vaccine programme”, the latest variant is causing concern.
While none of us know what’s around the corner, we’re hopeful that things will keep progressing around the world and that one day everyone can live a more normal life again.
We would like to thank all the brilliant NHS staff of which we have many as members, who have done so much for us in London and around the country. These along with other key & vital workers continue to go beyond the call of duty despite the stress and exhaustion that many have had to cope with.
In fact, all keyworkers deserve our appreciation in these challenging times.
In just the last year, here at the Credit Union, we have issued over £396,387 in loans, as we help more people spread the cost of their purchases with our ethical “Saver Loans”.
While we are pleased to be able to support many more individuals, this highlights the cost of living crisis that many of us now face thanks to benefit cuts, soaring energy bills and rising inflation.
Our ”ethical loans” provide a fair and affordable alternative to “expensive credit card debt”, “high interest lenders” and “loan sharks”, and we are pleased to be helping some of the most vulnerable in our communities with the financial support they need.
Our offering of “Child Benefit Loans” continue to be very successful in helping parents to have the monies they receive to go into a “Saving account” and members can have a debit card
The “Engage” Card
You can transfer funds from your Thamesbank Credit Union account onto an Engage debit card and can use this to withdraw funds “Engage” is a debit card facility, allowing members to transfer savings or agreed loan payment to independently access your money easily.
Members using the Child Benefit Savings and Loan facility find this an exceptionally useful means of receiving un-allocated child benefit and to take monies out of an ATM or at the Post office.
It also gives discounts at many high street shops.
The other great advantage is that parents / guardians can do is request a “Child Benefit Loan” up to £500 based upon their savings.
Many parents who haven’t been able to open bank / building society accounts have been able to open an account with “Thamesbank Credit Union” and this way they are not financially excluded.
We continue to grow as a Credit Union and perhaps this is due to many of you sharing the “Credit union Difference” to your families, friends & Communities.
We are also happy to be working with many local employers to provide “Salary Savings & Loans schemes” for thousands of their employees. The most recent corporate has been the University of West London.
As an ethical business, one of our goals at the Credit Union is to help move people out of debt and into saving, and we offer a range of “Savings Accounts” to meet different needs.
In fact, we rely on our savers to create the funds we need to provide our low cost loans, so please do consider saving with us if you can. Also to ask your family and friends to open an account for as little as £1.00.
We’re hoping that 2023 will be better for everyone and we look forward to providing financial services to many more people in the coming months.
As a small reminder, if you haven’t already booked an appointment for your “Flu jab” and “Covid jab”
Our board is made up of members who volunteer their time and effort to keep the organisation going. I’ll use this opportunity on your behalf to thank the team, especially to my Vice Chair Paul Oppe, who along with other board members have supported me considerably during the past year.
If you would like to consider being part of the board, please contact us as we have rolling recruitment process.
The other team whom many of you contact are our “Back Office” team are at Credit Union Solutions led by Graham Tomlin.
May we wish all of our members, their families and organisations who are our “Corporate partners” Season’s Greetings from all of us at Thamesbank Credit Union.
With warm wishes,
Mukesh Malhotra (BEM BCAv MSc CISM) and Paul Oppe
Chair and Deputy Chair, Thamesbank Credit Union