17th October 2023
Find out more about charity savings accounts at the Vernon and how they work.
At the Vernon, giving back to our community is one of our top priorities. Over the last 10 years, we’ve donated over £100,000 to local charities and non-profit groups, as well as taking part in volunteering days to help organisations in the community. We’re also proud to offer savings accounts made for charities with our 35-Day Notice Charity Account and Charities, Clubs & Associations Account.
As a mutual, we’re passionate about supporting local charities and organisations, and a charity savings account caters to their needs.
Charity savings accounts are a great way to get your charity’s money working whilst you don’t need to spend it. They can operate on an instant access or notice basis, with our notice charity account’s notice period being 35 days.
We pride ourselves on our personal, friendly service. Unlike large banks and organisations, when you call us, you know you’re going to speak to a real person every time.
As a mutual building society, we reinvest profit into the business and support our local community through staff volunteering days and our charity fund Community Stars.
Ian Wilson, our Savings Business Development Manager: “Over the past few years, the low-interest rate environment has meant that interest on savings was very little, however, here at the Vernon this has now changed. Our 35-Day Notice Account for Charities provides a higher rate of interest in exchange for a notice period on withdrawing funds. With a current interest rate of 3.30%* Gross**/AER*** a lot of our charity partners are signing up to this new fundraising opportunity.”
Ready to apply? The application form can be downloaded here, complete it, and email it to info@thevernon.co.uk. If you have any queries when opening this account, please contact us.
*Rate correct as of 1st September 2023.
**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.