How we started
Thamesbank began life serving the population of Brentford and Isleworth. It quickly expanded and absorbed Hounslow Employees Credit Union. It now has a common bond that encapsulates London Boroughs of Hounslow; Richmond upon Thames; Kingston upon Thames; Wandsworth; Ealing and Spelthorne Council.
We follow the International Cooperative Alliance values and principles. At their heart, this is about individuals organising together in democratic ways to take responsibility for their own collective futures.
How secure is my money?
We are part of the Financial Services Compensation Scheme and members’ savings up to £85,000 are therefore protected.
We invest any funds that are not being lent to other members. Any surplus that the credit union makes will be split roughly into three areas. Firstly there is a duty for all credit unions to develop reserves and a percentage of any surplus made will always go into the reserves of the credit union. Secondly, the credit union Directors may wish to put part of any surplus into developing the credit union or its products and services. Lastly, any remaining monies will be returned to savers in the form of a dividend.
The Board of Thamesbank comprises:
Mukesh Malhotra (Chair)
Sarah Gardner (Vice-Chair)
Steve Laffey (Treasurer)
Paul Oppe (Company Secretary)
Jayaseeli Sathyanarayanan (Director)
Pernille Holtedahl (Director)
Irfan Yousaf (Director)
Nic Dowler (Director)
Carys Haf Davies (Director)
Hilary Ellwood supports the Board with the administration.
Thamesbank Credit Union is incorporated under the Credit Union Act 1979. Registered Number 722C.
Thamesbank Credit Union is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudental Regulation Authority. Registration Number 416486