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Ipswich Building Society donates charity partners over £6,000 of funding

Added: 19 October 2018

Ipswich Building Society donates charity partners over £6,000 of funding

Beneficiary partners of Mutual Advantage affinity accounts receive an annual bonus

Ipswich Building Society has donated over £6,000 to nine Suffolk based charities from its Mutual Advantage affinity saving accounts programme.

The local charity partners of the Society’s nine branches each received a 1% bonus based on the average account balance of all Mutual Advantage accounts opened at their partner branch.

The Society’s Mutual Advantage account is a variable rate savings account which currently pays 0.75% Gross/AER for balances from £100 - £50,000. It offers three penalty-free withdrawals per year and any additional withdrawals must be done either through 30 days' notice or 30 days’ interest penalty.

The Society reviews the beneficiary partners each year, enabling funding to be spread across a wide variety of charities in Suffolk. All bonuses are donated by the Society and are not taken from members' funds deposited with us.

The following charities received support in the last year:

The Sudbury branch beneficiary partner, The Smile of Arran Trust, received a bonus of £1,645. The charity was launched as a tribute to the late Arran, a 13-year-old who passed away a week after being diagnosed with a brain tumour. His mum, dad and sisters created the charity to help other families whose lives have been affected by a brain tumour.

Alison Tosh, Arran’s mother and the cofounder of The Smile of Arran Trust, commented: “We’re delighted with the support we have received from the Sudbury branch of Ipswich Building Society and, of course, the members who hold a Mutual Advantage account. It is an amazing amount of money which will really help us provide financial assistance to children and families who have been affected by a brain tumour.

Not only have the staff at the Society chosen to support us for a further year, they have also gone the extra mile in helping us raise awareness, promote events and raise money through ticket and wristband sales.”

Richard Norrington, Ipswich Building Society CEO, commented “Through our Mutual Advantage account we are able to support charities local to the communities in which we operate. As a mutual organisation, this is incredibly important to us and we are committed to supporting the areas where our branches are located. I am delighted that, in addition to each adopting a charity, our branches have also been involved with their chosen organisations through further fundraising and support, such as volunteering.”

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