Dear Member,

Welcome to October’s edition.

In this month's newsletter, Thamesbank celebrates International Credit Union Day's 75th anniversary, thanking our valued members and emphasising the global impact, commitment to the underserved, and cooperative strength of credit unions. Learn more about the history of the credit union movement and what sets credit unions apart. We also highlight our efforts against illegal lenders and offer homeowner loans with competitive rates. As always, Thamesbank is here to support you on your financial journey.

Please feel free to share this newsletter with your family, friends and colleagues.

With best regards,

The Thamesbank editorial team

International Credit Union Day: Celebrating 75 years

Since 1948, International Credit Union Day has been an annual celebration, held on the third Thursday of October. It is a cherished occasion, allowing us to honor the rich history of credit unions while raising awareness and support for their unique and cooperative approach to finance.

Thamesbank reflects on the credit unions movement’s 75th anniversary, expressing gratitude to members and highlighting credit unions' global impact, commitment to the underserved, and cooperative strength.

Read the full article on our website.

A brief history of the credit union movement

When did the credit union movement begin? Which was the first credit union? What was Thamesbank Credit Union’s original name?

Get all the answers to the above questions and more from our website.

You can read the full article on our website.

What makes credit unions different from other financial institutions?

• Equal Ownership – Credit unions are democratically controlled and member-owned and member-operated. Each member has equal ownership and one vote regardless of how much money he or she has in savings. 
• Not for Profit – Credit unions are not-for-profit financial cooperatives that provide a safe, convenient place for members to save money and access loans and other financial services at reasonable rates.
• Social Purpose: People Helping People – Credit unions exist to serve their members, not to make a profit. Every member counts, including those of modest means. This “people-first” philosophy impels credit unions and their employees to get involved in their community and support worthwhile causes.
• Volunteer Leadership – Each credit union is governed by a volunteer board of directors elected by and from the credit union’s membership. 
• Financial Education for Members – Credit unions place particular importance on educational opportunities for their members and the public to help everyone become better-educated consumers of financial services.
• Trust – Lately credit unions have received positive press for being trustworthy and resilient institutions during a tumultuous time. Credit union members worldwide can be proud of these accomplishments and rest assured that their money is safe at the credit union.

#BehindTheMask – A Stop Loan Sharks initiative

Illegal lenders are masters of disguise and can draw you in under false pretences. They might tell you they work or worked for a credible organisation but the truth is they are hiding behind a mask of respectability. You can check your lender is authorised with a quick check on the Financial Conduct Authority website.

If you think you have been targeted by an illegal lender, get in touch with the Stop Loan Sharks team:

• Complete their short and safe form and they will call you at a time to suit you.
• Call 0300 555 2222 at any time of the day or night
• Email reportaloanshark@stoploansharks.gov.uk
• Text the lender’s details to 07860 022116

Don't fall for an illegal lender’s tricks this Halloween. Taking a few minutes to check could stop your Halloween becoming a horror story. #behindthemask

Always borrow from a credible lender such as Thamesbank Credit Union.

Learn more about the Stop Sharks Team on our website.

Homeowner Loan

As the winter months are dawning upon us, and with the ever-rising energy bills, it’s a good idea to make improvements to your home to make it more energy efficient.

Therefore, Thamesbank Credit Union is here to help. 

If you are a regular saver with equity in your property, we can give loans up to the maximum allowable by our regulator. This is £10,000 on top of your savings. The maximum savings you can have is £7,500.

Rates are negotiable but start as low as 3% APR.

Words of wisdom

“There is wisdom in climbing mountains… For they teach us how truly small we are– Jeff Wheeler

Just like climbing mountains, managing your finances is a journey of humility, goals, risks, and perseverance. Thamesbank Credit Union is here to support you on this rewarding path.  

Members noticeboard

Join Thamesbank's Board of Trustees 

Thamesbank is actively recruiting new members to join our board of trustees. To inquire or apply, simply send an email to info@thamesbank.org with the subject line "Director Application." Include a brief message explaining why you'd like to become a Director, along with your CV detailing your background and experience. Join us in making a difference!

Learn more about becoming a Thamesbank Director from our website.

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 and to enter the lottery, visit the Credit Union Solutions (CUS) website.

Stop Loan Sharks – win a £50 voucher! Simply complete this survey

The Stop Loan Sharks team are conducting a survey to gain insights from credit union members on what factors trigger their decision making, what information is important to them and how they currently feel about their finances.

Complete this form and you could stand the chance of winning £50 of your choice. The survey closes on 17 November 2023.

Please note: Thamesbank Credit Union is acting solely as a messenger for this message on behalf of the Stop Loan Sharks team. We want to clarify that we have no association with the prize draw. Any data collected will remain exclusively accessible to the Stop Loan Sharks team, and Thamesbank will not have access to it.

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 is authorised and regulated by the FCA and PRA Reg. No. 416486. Registered office address: The Bungalow, Pinkwell Lane, Hayes, UB3 1PE

Ethical and affordable finances  |  Helping you to save and borrow

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