Thamesbank Credit Union Led by Values in Local Community Says Local MP

Tuesday 23 January 2024

In a recent interview for Thamesbank Credit Union, MP for Feltham and Heston, Seema Malhotra spoke about the importance of her local credit union, Thamesbank. Seema also gave praise for the support it provided members throughout the Covid-19 pandemic.

In response to the pandemic, Thamesbank introduced a New Key Worker loan during the pandemic to help key workers who are struggling with finances by introducing a low-interest rate loan of 0.5% (6.3% APR) for borrowing up to £1000 up to five years.

Seema Malhotra MP said: “With this introduction of lower rates for key workers demonstrated to me so much about how the Credit Union is led by its values and really in tune with the local community.

“Thamesbank follow those of the International Cooperative Alliance values and principles and you do what we need to do everywhere, you make sure the views of members are used and heard in shaping the way Thamesbank is run and the different products that they have on offer.

“That’s why I’d like to see more people join and benefit from the Thamesbank Credit Union community. My view as well is that we’ve got a lot of work to do together.

“I would like to thank you and congratulate Thamesbank, I know Mukesh and the trustees. All of you who are helping with Thamesbank it is so close to me it’s so close to my heart. I’m a Labour, and Co-op MP because I believe so much in cooperative values and principles I’m inspired by what you do and I know want to you know you know work with you on how we can increase the support and the services for local people.

In a statement at its recent AGM, Chair of Thamesbank, Mukesh Malhotra thanked staff at Thamesbank who adapted to the rapid changes that the Covid-19 pandemic impacted their day-to-day lives, Mukesh said “Our immediate concern was for our members, communities, and colleagues; we wish everyone to stay safe and well, and to look after each other. With great foresight just ahead of the Covid-19 lockdown, our Board along with & our team did a tremendous job at short notice to mobilise themselves to continue to operate the business by working from home and the office.”