Welcome to the January edition
Happy New Year! We hope that you’ve had a great start to the year 2022.
Did you know that this is the year of the Tiger according to the Chinese Zodiac calendar? It’s also a good year to make money. You can read more in our ‘Thamesbank celebrates Chinese New Year 2022’ article.
In this month’s newsletter, we share with you why the Buy Now Pay Later scheme is not always the better option. We also highlight the benefits of joining our Salary Saving Scheme.
Lastly, as Valentine’s Day is just around the corner, share your love for Thamesbank Credit Union by telling others about us.
We wish you all a lucky and prosperous year of the Tiger 2022 and Happy Valentine’s Day.
With kind regards,
Thamesbank editorial team
Buy Now Pay Later versus credit unions
BNPL or Buy Now Pay Later allows you to buy an item at the regular retail price now and you pay for it in instalments or at a later date, interest-free. However, is this a better option than considering your local credit union?
Salary Saving Scheme
Saving through your payroll is both quick to set up and easy to operate.
Why you should join our Salary Saving Scheme:
- You can save as you earn therefore you won’t be stressed about putting money aside every month as it’s done for you automatically.
- You get interest on your savings
- You may qualify for preferential rates
- Through our new web app, you can get online access 24/7
- As a member of Thamesbank, you may also qualify for a dividend
- Once you become a regular saver, you can start planning your future for example to get your dream holiday or towards getting a car
- Members saving through this scheme are eligible to apply for an Introductory Loan of £3,000 to £5,000 repayable over 60 months subject to credit and affordability checks
Thamesbank has the Scheme with the following payroll partners:
- London Borough of Hounslow
- Richmond Housing Partnership
- Hounslow PCT
- Co-op Homes
- Bluebird Care Slough
- Bluebird Care Twickenham
- Bluebird Care Wandsworth
- Hounslow Richmond Community Health (HRCH)
What’s more, if you refer a colleague and they join our scheme and take advantage of the Introductory Loan, both of you get £50 into your Thamesbank Savings Account. Terms and Conditions apply.
Thamesbank celebrates Chinese New Year
This year, the auspicious Chinese New Year will be celebrated from 01 to 15 February 2022 and marks the year of the Tiger.
Anyone who is born in the year of the Tiger will have many qualities that a tiger possesses including being dynamic, engaging and unexpected. Exercising caution is always wise with tiger energy.
It is also a good year to make money and have a baby (if you are planning on having one).
Therefore, to strike good fortune this year, savings or loans from Thamesbank Credit Union may help.
We wish you a lucky and prosperous year of the Tiger 2022.
Find out more about Chinese New Year on our website.
Share your love for Thamesbank this Valentine’s Day
Valentine’s Day originally began as a pagan fertility festival and is now one of the biggest celebrations where people express love for each other. Commercially, it’s growing from year to year. In fact, the UK population itself spend somewhere in the region of £1.3 billion each year on their very own special Valentine.
This year, why not show your love for Thamesbank Credit Union by sharing what we do with your colleagues and loved ones? If they live or work within our common bond including London Boroughs of Ealing, Hounslow, Kingston Upon Thames, Richmond Upon Thames, Wandsworth and the Borough of Spelthorne, they can join us. What’s more, if they join and borrow, both of you will get £25 (Terms and Conditions apply). They can apply here.
To find out more about Valentine’s Day, visit our website.
Words of wisdom
Muhammad Yunus, Nobel prize winner and Pioneer of Microfinance said, “People were poor not because they were stupid or lazy. They were poor because the financial institutions did not help them to widen their economic base.“
Chair receives Queen’s Award
We are proud to announce that our Chair, Mukesh Malhotra, has made it to the HM Queen’s New Year’s Honours list 2022 for his service to the local community. He also received the British Empire Medal. Congratulations to Mukesh and keep up the good work!
To provide additional security for members taking share withdrawals, please contact the office to provide them with the sort code and account number for the destination of share withdrawals. This feature has been added to the members’ web app to provide additional security for funds transfers.