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 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.
To read the latest enewsletter click here TBCU – September 2020 Newsletter