In 2016 we launched our new Mutual Advantage savings account – enabling the holder to save and earn interest on their savings, all while supporting a local charity. Each of our branches has their own Mutual Advantage charity of the year:
• Aldeburgh - Aldeburgh United Charities
• Hadleigh - The Shelley Centre for Therapeutic Riding
• Halesworth - Halesworth Volunteer Centre
• Haverhill - REACH
• Ipswich Mutual House - Ipswich Housing Action Group
• Ipswich Ravenswood - 4YP
• Saxmundham - Supported Activities for Everyone (SAFE)
• Sudbury - The Smile of Arran
• Woodbridge - Home Start
Each charity will receive a bonus of 1% of the average account balances held during the year for all accounts at ‘their’ nominated branch. The bonus is payable from the Society and not from any member funds deposited with us.
This means the bonus paid to each charity will be dependent on the level of support received at their branch to remain truly local, and not averaged out across our branch network. And because we want to keep supporting charities doing vital work in our local communities, we change the chosen charities each year on 1 July.
We’ve previously supported St Elizabeth Hospice, Suffolk Wildlife Trust and the East Anglian Air Ambulance through our discontinued We-Care account. Although now closed issue for some years, we continue to make payments to those charities as a 1% annual bonus paid from those accounts still with us.
For more information, visit our savings products page or call in-branch.