Saving

How to join     piggybank

Before you can start saving with Thamesbank Credit Union, you must become a member of the credit union. Membership is free and you can apply securely online, using our Online Membership Application. You will be asked to post copies of proof of ID (with photo) and address in order to satisfy the requirements of the money laundering regulations.

Paying into your Thamesbank Credit Union account

Once you are a member of Thamesbank Credit Union, there are a number of different ways to pay into your credit union account.

Standing Order:

You can set up a standing order from your bank account by completing the Standing Order Mandate.

Payroll Deduction:

If we have put in place payroll agreements with your employer, you can pay into your account using a deduction from your payroll. This is by far the easiest way to save with Thamesbank Credit Union. If there is no payroll agreement in place with your employer, why not ask your employer to set up an arrangement. Please email us with the contact details of their payroll department or ask them to look at our Information for Employers page.

Currently the following local employers allow payroll deduction:

  • Hounslow Council
  • Hounslow Homes
  • Hounslow PCT
  • Richmond Council
  • Richmond Housing Partnership
  • Co-op Homes
  • Blue Bird Care

If you work for one of these employers, download the Payroll Deduction Form and return it to your payroll department.

One off Saving:

You can save on a ad-hoc basis by making a BACS payment from your bank account, using these details:

  • Sort Code: 089250
  • Account Number: 67007994
  • Payment Reference: Your Thamesbank Credit Union membership number

The maximum you can save is £10,000 and all savings per member are guaranteed by the Financial Services Compensation Scheme.

Withdrawals

You can withdraw your savings at any time by completing a share withdrawal from via the members’ online secure area. Payments are normally made by bank transfer free of charge within five working days of a request being received, however may take a little longer if demand is high so please give as much advance notice as possible.

Once a loan is granted, members will not be able to withdraw shares, unless the value of the shares is in excess of the loan balance repayable and payments are not in arrears.

There is also an option to apply for a loan, rather than to withdraw savings, and this may be a better option for some members so that savings are maintained for emergencies.

Members of Thamesbank Credit Union can also now request an Engage card, which can be used in shops or withdraw money from cash machines. The card will be pre-loaded with your savings so you can use the money in your account directly, however there will be no overdraft facility on these cards.

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