Suitable for charities, clubs & associations local to Stockport.
This account is available to UK organisations only who are based within a 25-mile radius from the postcode noted on the account to our Stockport head office postcode SK1 1HF.
Our intention to retain mutual status goes hand in hand with our determination to support local charities and organisations. Having developed strong links with such groups, we have endeavoured to design a savings account specifically tailored to suit their needs.
Charities, Clubs & Associations
What is the interest rate?
|Annual Interest||Gross Rate*||Gross AER**|
The interest rate is variable. Interest is calculated daily and added to your account annually on the 31st March. Interest is paid gross without tax deducted.
*The gross rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law.
**The AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
Can the Vernon Building Society change the interest rate?
We have the right to vary the rate of interest at any time.
Please see section 10 of our General Savings Account Terms & Conditions for a more detailed explanation which sets out when we can vary the interest rate and how and when we will notify you if this happens. A copy of the General Savings Account Terms and Conditions are provided when you open the account.
What would the estimated balance be after 12 months based on a £1,000 initial deposit?
This projection is provided for illustration only and does not consider individual circumstances. This assumes an initial deposit of £1,000, no further deposits or withdrawals being made over the 12-month period and that the interest rate does not change.
How do I open and manage my account?
This account is available to UK organisations only, who are based within a 25-mile radius from the postcode noted on the account to our Stockport head office postcode SK1 1HF.
You can open and manage the account in-branch or you can complete an application, and either email or post it back to us. Your transactions and balance will be printed in your passbook.
We will need a copy of the minutes of the meeting at which your organisation passed a resolution to open the account, together with proof of identity for all signatories.
A minimum of 2 signatories are required to operate the account.
The signatories should be:
Trustees or persons authorised to sign by the trustees.
For Clubs or Associations
The secretary and treasurer or other officers authorised to sign by the managing body.
A minimum deposit of £1 is required to open the account.
The maximum balance is £250,000 plus any interest that is added to the account.
You can deposit by cash or cheque in branch or by standing order or online banking.
Can I withdraw money?
Withdrawals from the account can only be made in branch.
The minimum balance allowed on this account after a withdrawal in order to keep the account open is £1.
Please refer to section 12 of the General Savings Terms & Conditions brochure for further information
The information contained in this summary box forms part of the terms and conditions of the account and should be read in conjunction with our General Savings Account Terms & Conditions.
Book an appointment at your local branch and speak to one of our friendly advisorsBRANCH FINDER
08:45 - 17:00
Did you know that your eligible deposits with the Vernon are protected up to a total of £85,000 (£170,000 for joint accounts) by the Financial Services Deposit Scheme (FSCS), the UK's deposit guarantee scheme?Learn more about the FSCS