Dear Member,

This month, celebrate 76 years of International Credit Union Day with us as we reflect on the power of cooperative finance.

Learn how to avoid spooky spending this Halloween, and boost your financial health with our three-part guide to credit scores.

Plus, discover our homeowner loan, find out who our new payroll partner is, and take advantage of our Junior Savings Account special offer.

If you have any topics that you would like us to cover in future newsletters, simply email us on  news@cus.coop.

With best regards,

Thamesbank editorial team

Credit Unions Across the Globe Celebrate 76th International Credit Union Day

Thursday 17 October 2024 marked the 76th annual International Credit Union (ICU) Day, under the theme: One World Through Cooperative Finance. The annual event reflected upon the credit union movement’s history, promote its achievements, recognise hard work, and share member experiences.

"At Thamesbank Credit Union, we take pride in being a part of a movement that puts people before profit. Today, we reflect on how our commitment to financial education, fair lending, and community support continues to make a lasting impact on our members’ financial well-being, empowering them to build brighter futures." – Mukesh Malhotra, Chair of Thamesbank Credit Union.

You can read the full article on our website.

Spooky Spending: 5 Financial Scares to Avoid This Halloween

Halloween can be full of fun, excitement, and of course, a bit of fright. But while you’re carving pumpkins, decorating your home, or planning the perfect costume, there’s something scarier lurking in the shadows – overspending. Halloween may seem like just one night of fun, but the costs can quickly add up. So before you let those ghoulish impulses take over, we reveal how to avoid a few financial horrors.

Introducing: Your Guide to Credit Scores – A Three-Part Series

We’re excited to bring you a three-part series all about credit scores. Over the next few newsletters, we’ll be diving into everything you need to know about why your credit score matters, how to check it, and simple steps you can take to boost it.

Here’s what you can look forward to:

• Part 1: Why Your Credit Score Matters (this issue)
• Part 2: Understanding and Checking Your Credit Report (next issue)
• Part 3: How to Boost Your Credit Score (final issue)

Let’s get started!

Part 1: Why Your Credit Score Matters

Your credit score gives lenders an idea of how risky it is to lend you money. Essentially, it’s a reflection of your financial reliability. The better your credit score, the more options you’ll have when applying for credit. A good or excellent score increases your chances of being accepted for credit, such as a mortgage, credit card, or loan. Not only will you have access to more products, but you’ll also have a much better chance of being approved for the best deals.

For example, when it comes to credit cards, a strong credit score means you could be eligible for:

• A higher credit limit
• A competitive interest rate
• A longer 0% interest deal on purchases or balance transfers
• Cashback or loyalty points

Being eligible for the best mortgage, credit card, or loan deals means you’ll save money in the long run. Lower interest rates and better terms can make a significant difference over time, which is why it’s worth maintaining a healthy credit score.

In summary, your credit score doesn’t just affect whether you’re accepted for credit – it also influences the quality of the offers you’ll receive. Whether you’re applying for a new mortgage or a credit card, a better credit score equals better deals.

Christmas is nearly here…

Need a break?

Car repairs – or even a new car?

Planning home improvements?

Whatever the reason, Thamesbank Credit Union has you covered with a range of flexible loans to meet your needs:

• Payroll Deduction Loans 
• Child Benefit Loans 
• Transport Loans 
• Savings Linked Loans 
• Homeowner Loans 
• Christmas Loans

Get the support you need this festive season.

Homeowner Loan

As the winter months approach and energy bills continue to rise, it's a great time to make your home more energy efficient.

Thamesbank Credit Union is here to support you.

If you're a regular saver with equity in your property, we offer loans of up to £10,000 in addition to your savings, which can go up to £7,500.

Interest rates are negotiable, starting from as low as 5.25% APR.

Words of wisdom

"Beware of little expenses; a small leak will sink a great ship." – Benjamin Franklin

The message is to be mindful of your spending, no matter how small, because those little costs can lead to major financial trouble if left unchecked.

Members noticeboard

New Payroll Partner

Thamesbank Credit Union is now an official payroll partner with Spelthorne Borough Council.

Last month, key representatives from Spelthorne Council, including the Chief of Staff, CFO, and Head of Communications, joined Edward, Tracy, and Jan Doskar from Thamesbank Credit Union to celebrate the partnership.

If you're interested in joining our Salary Saving Scheme, feel free to reach out at admin@thamesbank.org.

Have you joined the Sercle App?

The Sercle App is a secure, user-friendly mobile app that connects members to Thamesbank Credit Union 24/7, offering real-time access to your account and the ability to stay connected with us whenever you need.

How to Get the App:

Downloading the Sercle App is quick and easy! It’s available for free to both existing and prospective members.

Junior Savings Account – special offer

Is your child under 18 and excited to start saving? As a parent, guardian, or grandparent, you can help them build a secure financial future. With our Junior Savings Account, you can save anywhere from £5 to £100 per month.

For a limited time, we're offering a special bonus. New accounts will receive a bonus instalment—50% credited on the 1st anniversary and 50% on the 2nd anniversary of opening the account.

Interested? Simply email us at admin@thamesbank.org to get started. Don't forget to share this flyer with friends and family.

Are you a new payroll saver?

If you’ve recently joined our Salary Saving Scheme, you’re eligible to apply for a loan this December. You would need to complete our online application form. 

You can borrow between £3,000 and £5,000, with repayment terms up to 60 months and an APR ranging from 12.7%. Subject to credit and affordability checks. Terms and conditions apply.

Lottery - enter now

As a member of Thamesbank Credit Union, you have the chance to enter the lottery, run by our back-office provider, Credit Union Solutions (CUS).

Each entry is £1, and each member can have up to 10 chances per month.

For all the details, to enter the lottery and to see past winners, visit the Credit Union Solutions (CUS) website.

Share this newsletter

Please feel free to share this newsletter with your colleagues, friends and anyone else who may be interested in the content within it. 

With thanks from the Thamesbank editorial team.

Thamesbank Credit Union Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Firm Reference Number No. 416486).

Ethical and affordable finances  |  Helping you to save and borrow

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