Dear Member,

In this issue, we've got something for everyone. First, we're excited to announce the launch of our new Sercle App. This secure, user-friendly app makes it easier than ever to manage your finances on the go.

Next, we're sharing helpful tips to help you take control of your money and save. Learn about the 50/30/20 budget, how to start saving regularly, and how to overcome money worries with our Salary Saving Scheme.

And finally, we're sharing updates from our community. Learn about our recent Strategy Day and 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

Manage your Thamesbank Credit Union account with the Sercle App

We’ve partnered with Sercle to bring you a smarter, more efficient way to manage your Thamesbank Credit Union account with the Sercle App.

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

Why the Sercle App?

Email and post aren’t always the most secure ways to communicate, and cybercrime is on the rise. The Sercle App provides a safer way to manage your account and personal information. It helps reduce the risks associated with fraud and hacking, giving you peace of mind when managing your finances.

Plus, it boosts efficiency—cutting down on time spent handling calls, admin tasks, and paperwork—allowing your Credit Union to focus on growth and meeting important KPIs like expanding membership and loan portfolios.

How to Get the App:

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

How to easily manage your money with the 50/30/20 budget

The 50/30/20 budgeting rule is a simple and effective way to manage your income by dividing it into three categories. 

50%

These are the must-haves of everyday life. They include the costs required to live. Examples include rent/mortgage, utility bills, groceries, transport and minimum debt repayments.

30%

These are the extras we spend every day but are not essential to life. These include takeaway coffees, weekends away, holidays, gym membership, to name a few. While it’s important to enjoy life, keeping this category limited to 30% ensures you don’t overspend on luxuries.

20%

This is the amount you should be saving evey month. Whether you’re building an emergency fund, saving for a vacation, or planning for retirement, this portion helps you secure your financial future.

How to start regular saving

Here are top tips to help you save:

1. Save what you can afford: Don't stress yourself out by trying to save too much too soon.
2. Set a clear goal: Decide what you're saving for (e.g. a vacation, a house).
3. Cut back on unnecessary expenses: Identify areas where you can reduce spending (e.g., eating out less).
4. Calculate your monthly savings amount: Divide your goal by the number of months you have to save.
5. Consider automatic savings: Ask your employer about payroll savings or set up a standing order.
6. Start with a small deposit: Open a savings account with a minimum deposit of £100 or more.
7. Residents of specific London boroughs: If your employer doesn't offer payroll savings and you live in Ealing, Hounslow, Richmond, Kingston, Wandsworth, or Spelthorne, contact admin@thamesbank.org to learn more about the benefits of regular savings through payroll deductions.

How to overcome money worries with Thamesbank’s Salary Saving Scheme

Thamesbank Credit Union's Salary Savings Scheme helps employers support their staff by encouraging regular savings, reducing financial stress, and boosting workplace morale. This flexible scheme allows employees to contribute an amount of their choice from their salaries, with their savings being protected. As a reliable and trustworthy financial provider, Thamesbank offers this service for free, ensuring employees' money is safe while helping them plan for a secure future.

Words of wisdom

"It’s not your salary that makes you rich, it’s your spending habits." – Charles A. Jaffe

This quote emphasises that wealth isn't solely determined by how much you earn, but by how wisely you manage and spend your money. Even someone with a high salary can struggle financially if they don't control their spending, while someone with a modest income can build wealth through disciplined saving, budgeting, and mindful financial decisions.

It highlights the importance of living within your means and prioritising savings over unnecessary expenses. Essentially, financial stability and success are shaped more by good spending habits than the size of one's paycheck.

Members noticeboard

Thamesbank Strategy Day

On Saturday 14th September 2024, our board members and Credit Union Solutions (CUS), our back-office provider, came together for the Thamesbank Credit Union Strategy Day. We covered key topics like regulatory updates from the FCA (Financial Conduct Authority) and PRA (Prudential Regulation Authority), Underwriting Strategy, Bad Debt, Marketing, and Business Development.

We will also be focusing on future training and development, especially for our new board members. It’s great to see the commitment to continuous growth for both the board and the CUS back-office team, led by Tracy, Graham, and Chandra.

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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