Members eNewsletter July 2022 edition
Future proofing your finances
“A man who does not plan long ahead will find trouble at his door.” – Confucius
Planning is essential to the survival of everything, from finances to festivals. We all must plan or suffer great risk. Therefore, in this edition, we share articles that will help you future proof your financial future. These include ‘how to invest money, especially for your financial future’ and ‘the importance of preparing a will’. We also give you some guidance on how to tackle financial problems. Still on planning, with Christmas in less than six months’ time, you still have time to open a Christmas Savings Account. Find out how you can set yours up.
In other news, the deadline for the £20 and £50 paper notes is approaching. Find out what you would need to do before 30 September 2022.
Lastly, we will be joining other credit unions in a social media blitz on 29 July 2022 where we are asking you, our members, to share why you love Thamesbank Credit Union. Get the full details in this enewsletter. We look forward to reading your kind words on social media on 29 July 2022.
With kind regards,
Thamesbank editorial team
How to invest money – especially for your long-term goals
Over a long period, the best returns are normally achieved from investing through “closed” investment vehicles, to avoid fluctuations and market declines. This should also provide you with diversification.
Get the seven key principles for making decisions during market declines from our website.
The importance of a will
Have you thought about preparing a will but haven’t yet done so? Find out why you need one and where you can get help in preparing one.
Having financial problems?
At Thamesbank, we recognise that increasing inflation, rising gas and electricity costs and soaring petrol prices are all putting a strain on your finances. There may be also sudden financial needs like bereavement, a wedding, a new baby, etc. We understand there are many causes of financial distress, and we are here to assist you in any way we can.
Read the full article on our website.
How well do you know about our local reservoirs?
We share some interesting facts about local reservoirs that surround Thamesbank’s common bond. This article was written by John Taylor, a researcher and writer.
Deadline approaches for anyone with paper £20 and £50 notes
The Bank of England will be withdrawing the legal tender status of the paper £20 and £50 notes after 30 September 2022. These will be replaced by the new polymer £20 and £50 notes. Once this deadline has passed, people will no longer be able to spend the notes in shops or use them to pay businesses.
If you have any paper £20 or £50 notes, we encourage you to use them or deposit them with your bank or Post Office before 30 September 2022. If you don’t want to spend your money unnecessarily, why not put them into one of your Thamesbank Savings Accounts?
You can find out more about paper £20 and £50 note withdrawals on the Bank of England’s website.
Christmas Savings Account
With Christmas only five months away, you still have time to open a Christmas Savings Account for this Christmas. In the last week of November, your funds will automatically be paid into your nominated bank account.
To set up your savings account, contact us via email at admin@thamesbank.org.
It’s time to share why you love your credit union with the world
On Friday 29 July 2022, we will be joining other credit unions to show the world what it means to be part of a credit union. As your credit union, we invite you to join us on social media that day and use #ilovemycreditunion to share what your credit union means to you.
What you need to do:
It’s easy! Just use #ilovemycreditunion and give us a shout on your favourite social media channel. Our social media handles are as follows:
Twitter: @ThamesbankCU
Facebook: @ThamesbankCreditUnion
Instagram: @tcumarketing
Remember, timing is everything
We’re aiming to create a BIG BUZZ on social media. To make it happen, please hold on to your amazing stories until Friday, 29 July 2022.
Mark your calendars and get ready to join the online fun of sharing how your credit union has made a difference for you. Don’t forget to use the hashtag #ilovemycreditunion.
Words of wisdom
“The habit of saving is itself an education; it fosters every virtue, teaches self-denial, cultivates the sense of order, trains to forethought, and so broadens the mind.” – T.T. Munger
Saving regularly can help you build a buffer against any unexpected costs or emergencies you might come across.
Visit our website to help you open a savings account.
Members noticeboard
When does my payment show in my bank account?
The Thamesbank Credit Union admin team frequently get asked, ‘When does my payment show in my bank account?’
They have advised that any withdrawal or loan payments request made via email will show within two working days.
If you make online withdrawals before 9 a.m., the payment will go in on the same working day. If done after 9 a.m. or weekend/bank holiday, it will go in on the next working day.
Please note that payments can show in the bank accounts at any time up until 4 p.m.