Monmouthshire Building Society has launched a new savings account that will not only pay interest to its customers, but also to its charitable partner.
The Support and Save Account will pay interest of 2.25% AER/Gross a year – with its customers getting 1.75% of that interest and 0.50% going to the Building Society’s headline charity.
St David’s Hospice Care is currently Monmouthshire Building Society’s charitable partner and will benefit from the interest raised from the new account. It provides comprehensive, palliative care to patients facing life-limiting illnesses, their families and carers. It is one of the UK’s largest providers of hospice at home care, serving communities in south east Wales.
The Support and Save Account is an instant access account which can be opened by customers with a deposit of just one pound. The account can be held indefinitely and will also serve any future charities that Monmouthshire Building Society chooses to support.
Kirsty Maloney, Head of Savings at Monmouthshire Building Society, said:
“At Monmouthshire Building Society, we believe in making a meaningful, lasting impact beyond financial services, as well as ensuring that we are an integral part of our community. So, we are always looking at innovative ways in which we support our customers, colleagues and charity partners.
“We believe this savings account can fulfil a few of those aims, whilst offering an account that matches rates of similar instant access accounts currently on the market, and also allowing us and our customers to give back to our charity partner, St David’s Hospice Care.”
Kirsty added:
“With charitable donations diminishing, we believe this is an easy way for our customers to give to fantastic causes without the administrative burden of doing it themselves – as they save more, the charity benefits. It’s a win-win.”
Monmouthshire Building Society has also launched a similar savings account purely for its colleagues and people working at St David’s Hospice. This account allows Monmouthshire Building Society to give even more to the charity than the voluntary work that many undertake each month.
Beth Harrington, Community and Events fundraising manager at St David’s Hospice Care said:
“We are incredibly grateful for the support from Monmouthshire Building Society as they launch their new Support and Save account. We believe it’s a perfect example of how businesses and communities can come together to support St David’s Hospice Care in a simple but meaningful way.
“Every contribution allows us to continue to provide vital support to patients and their families across south east Wales.”
