Tipton & Coseley Building Society launches Community Saver Accounts

Richard Groom
Posted on by Richard Groom

Tipton & Coseley Building Society has launched two new savings accounts that will help West Midlands charities.

The Tipton’s new ‘30‐Day Community Notice’ and ‘Community Regular Saver’ accounts are designed to help people save and also contribute to the health and well‐being of the West Midlands at the same time.

The Society will pay the equivalent of 0.10% of the average monthly balance of these accounts to the Tipton & Coseley Charitable Foundation on 31st December each year.

The Foundation aims to donate £10,000 each year to health and educational charities based around the West Midlands. Twice a year, a panel of Society employees and members of the community come together to allocate funds and since its launch in 1999, the Foundation has made donations totalling over £150,000.

The 30‐Day Community Notice Account has a minimum opening deposit of £1000 and customers can pay in a maximum of £100,000 during the lifetime of the account. A variable interest rate of 1.10% gross / AER applies and customers can make a maximum of three withdrawals per calendar year.

The Community Regular Saver Account is designed for people who want to put something away every month. The account also has a variable interest rate of 1.10% gross / AER and customers can deposit between £10 and £500 per month with a maximum of two withdrawals per calendar year.

Commenting on the launch of the new Community Saver accounts, Richard Newton, Chief Executive at Tipton & Coseley Building Society said:

“Supporting and engaging with our local community is one of our core principles and by launching these new accounts our members ‐ new and existing ‐ have the opportunity to save and help our local community at the same time. The more they save, the more the Society can give to our Charitable Foundation and the more our local community will benefit”.

Learn more about our Community Saver Accounts