Thamesbank Times
Members eNewsletter
Ealing . Hounslow . Kingston . Richmond & Wandsworth . Spelthorne
Dear Member,
A fresh start for 2025!
January’s coming to a close, and with the festive season behind us, it’s time to focus on new financial goals. If you’re still feeling the pinch from Christmas, Thamesbank is here to help with affordable loans and smart saving solutions.
This month’s edition covers:
- Swap and save with a Thamesbank Loan
- Practical budgeting tips for 2025
- The 1p savings challenge
- Spotting investment scams
- Boosting your credit score (Part 3)
- Christmas Savings Account
“Every day is a new beginning. Take a deep breath, smile, and start again.”
Let’s make 2025 your best year yet!
With warm regards,
The Thamesbank editorial team
Struggling with credit card debt? Swap and save with a Thamesbank Loan
Feeling the post-Christmas pinch? Credit card bills got you down? Thamesbank Credit Union can help you get back on track.
Our Thamesbank Loans are designed to ease your financial burden, whether you need to:
- Catch up on bills
- Cover unexpected expenses
- Consolidate high-interest debt
Save money with a lower interest rate
Thamesbank Loans offer a competitive interest rate, significantly lower than most credit cards. In fact, our Savers or Payroll Loans have an interest rate of just 13.1% (14% APR), compared to the average credit card interest rate of a whopping 21.54% (as of November 2024, Bank of England data series CFMZ61R).
See the difference
Let's look at an example:
Credit Card:
- Loan amount: £3,000
- Interest rate: 21.54%
- Repayment period: 12 months
- Monthly repayment: £280.12
- Total repayment: £3,361.43
- Total interest paid: £361.43
Thamesbank Loan:
- Loan amount: £3,000
- Interest rate: 13.1% (based on excellent credit history)
- Repayment period: 12 months
- Monthly repayment: £268.09
- Total repayment: £3,217.11
- Total interest paid: £217.11
By switching to a Thamesbank Loan, you could save:
- £144.32 in interest
- £12.03 on monthly repayments
A total savings of £288.64.
Ready to ditch the high-interest credit card debt?
Apply for a Thamesbank Loan today and start saving.
Practical budgeting tips for 2025: take control of your finances
Tired of financial stress? Discover easy budgeting tips to ditch the overwhelm and regain control of your money in 2025. Learn how to track expenses, manage debt, and find support when you need it.
Get all the details on our website and simplify your finances today.
The 1p Savings Challenge 2025
We’re almost at the end of January, and it’s easy to feel like those New Year goals - like saving money - are slipping away. Don’t worry! This is your sign to revisit the 1p Savings Challenge, a simple yet effective way to build a savings habit.
What’s the 1p Savings Challenge?
The 1p Savings Challenge is a 365-day (or 366 in a leap year) money-saving trick. If you’re successful, you can save £667.95 by the end of 2025.
Simply put, it’s where you start by saving 1p on the first day and then save an extra penny each day after that.
You begin by setting aside 1p on 1 January, 2p on 2 January and continuing in this manner. Essentially, each day you save the amount you saved the previous day, along with an additional penny.
It’s not too late to start. Just catch up by adding £4.96 into to your savings pot by the end of January and keep going.
Our website provides all the information, plus a breakdown of how much you can save each month.
How to spot and avoid investment scams
Don't fall victim to investment scams!
Spotting a fake investment opportunity can be tricky. Slick websites, official-looking documents, and smooth-talking salespeople can make even the savviest of us fall for them.
Investment scams often promise unrealistic returns – things like guaranteed profits or suspiciously high payouts (like daily returns of 10%). Remember, real investments always come with some risk.
Here are some red flags to watch out for:
- Too good to be true: If it sounds too good to be true, it probably is.
- Rushed decisions: Scammers love to pressure you into acting fast. They might say the offer is limited ("This is a limited-time opportunity!") or try to create a sense of urgency ("You're missing out on a once-in-a-lifetime chance!").
- Unsolicited contact: Did you get a random call, email, or message about an investment opportunity? Be extra cautious, especially if you don't know the company.
- Odd requests: Be wary if they ask you to open a new bank account, download apps that allow remote access to your computer, or send more money to "unlock" your initial investment.
- Moving the goalposts: Scammers often change the rules. They might ask you to invest more money before you can withdraw your initial investment or claim that there are unexpected fees or taxes.
Read the full article on our website to discover how to protect yourself and your hard-earned money.
Part 3: Boosting your credit score
Welcome back to the third part of our guide to credit scores. Last time, we covered what your credit score really means and why regularly checking it is so important.
In this last part of the series, we give you tips on how to boost your credit score and ensure your financial profile reflects your true situation:
- Check your credit report for mistakes. If you find any, you can fix them by raising a dispute with agencies like Experian or Equifax.
- Get on the electoral register—it helps lenders confirm your identity and shows stability.
- Review financial associations, like joint accounts or bills, and update any outdated links.
These small steps can make a big difference. Get the full details and step-by-step guidance, on our website.
Thamesbank Christmas Savings Account
Embrace the joy of the festive season without the stress of finances! Open a Christmas Savings Account with Thamesbank Credit Union today.
Picture this: December 2025, and you're not worried about last-minute shopping or stretching your budget. With our account, you can save hassle-free from January till December. Your funds are automatically deposited into your nominated account by the end of November 2025, ensuring you have a jolly and stress-free Christmas.
Start the new year with a smart financial move. Reach out to us at admin@thamesbank.org and let's make this Christmas and every one after it, merrier.
Words of wisdom
"My goals don't stop for anyone. Either you support me or I make it happen alone… Either way it's going to happen." - Rob Dial
In this quote, Rob Dial shows determination, self-reliance, and focus on personal goals. It conveys the idea that his ambitions are non-negotiable and will be pursued regardless of external support or obstacles.
Members noticeboard
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.
Lottery - jumpstart your savings with a chance to win!
Thamesbank Credit Union members can now participate in an exciting 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.
Ready to boost your savings and try your luck? Head over to the Credit Union Solutions website to learn more, enter the lottery, and see a list of past winners.
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
You are receiving this email because you have signed up to receive marketing information from Credit Union Solutions on behalf of Thamesbank Credit Union. If you'd prefer not to receive updates, you can email: admin@thamesbank.org with the subject line 'Unsubscribe from marketing mailing list'.
