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History

History

The Cyprus Bank Employees Welfare Fund (TETYK) was established in 1992 following a Collective Agreement between the ETYK and the Union of Banks, aiming at ensuring the welfare and the leisure time of the colleagues and their families.

The TETYK as an institution provides an extensive range of activities aiming at offering options and alternative solutions to the colleagues to escape from their daily routine and profit by their free time and holidays.   

The TETYK is the owner of two hotel apartment complexes available to the colleagues for spending their holidays: 
The one is the TETYK Hotel Apartment Complex, located in the Protaras Pernera area, which is a 104-apartment hotel with all the facilities. In the 2018 early summer period, the expansion works for the construction of an additional storey are expected to be completed in both buildings of the TETYK hotel apartment complex (31 additional apartments). 

Each year, hundreds of bank employees’ families spend their holidays there at a very lower cost than the hotel market average price in the area.  
Seminars for our Trade Union’s senior members are held regularly in the TETYK Hotel Apartments Complex located in Protaras. The hotel has rooms fully equipped with modern items and appliances. They are inspected and certified as suitable by the Authority of Human Resources Development and subsidized seminars can be held there. The hotel may also be the venue of international conferences because technical equipment for simultaneous interpretation is available in its rooms.  

The TETYK is likely to be the only welfare fund in Cyprus, which is the owner of a hotel infrastructure. In 2010 the TETYK covered the construction cost for of a 39-apartment complex at the Keramoti seafront in Kavalla, following an unprecedented decision. Keramoti in Kavalla is a beautiful area in the North Greece and is a further option for the colleagues wishing to spend their holidays outside Cyprus at a very low cost. 

The TETYK hotel premises in Protaras and in Keramoti make it currently possible for the ETYK’s members who are in active service but also for the retired colleagues to enjoy cheap holidays of quality in one of the most cosmopolitan resorts in Cyprus and in a pretty picturesque area in Greece. 

The TETYK’s offer comprises a range of activities aiming also at enhancing leisure time for the ETYK’s members and their families, like the subsidized organized excursions, the child camping in Cyprus and in Greece, subscription to fitness centres, dancing classes, theatre performances, balls, etc.  


The colleagues’ unprecedented interest in being offered accommodation in the TETYK Complex mainly during the summer season was the reason why the TETYK Council decided to buy the next door P&Ζ HOTELAPTS with a 31-apartment capacity and add it to the expanded TETYK hotel Complex.  

The TETYK Complex has since then provided thousands of colleagues and their families with accommodation and it enjoys an established reputation as one of the best hotels amongst those of the same category because it offers high quality services against subsidized prices. 

The TETYK Council’s efforts are endless. In 2010, it made a pioneering decision for Cyprus and purchased a 26-apartment Complex along the Keramoti beach in Kavala, offering colleagues an alternative holiday solution outside Cyprus, in a fantastic area in Greece. The cost is again considered the lowest one. The colleagues’ huge demand for spending their holidays in Keramoti, caused the TETYK Council to expand the Complex by having constructed a further 14-apartment wing.