Charities are being offered mentoring, advice and even free meeting space alongside a competitive interest rate in an innovative new savings account from Hinckley & Rugby.
The new Charity Accumulator deposit account has been designed so charities can earn valuable interest to fund their work plus access the expertise in Hinckley & Rugby’s boardroom and departments such as HR, IT, marketing and finance.
Charities based in the Building Society’s heartlands may also be welcomed to use meeting space at the Hinckley head office or one of its larger branches such as Rugby and Nuneaton.
Colin Fyfe, who became Hinckley & Rugby’s chief executive a year ago, said the new Charity Accumulator account is a demonstration of the Society’s longstanding support of charities doing highly valued work in its local communities.
Colin said: “During my first 12 months at Hinckley & Rugby I’ve been hugely impressed with the Society’s engagement with charities and our staff’s commitment to volunteering and helping in many other ways.
“I want us to do even more and this new Charity Accumulator account takes our support to another level. We want to be not only a trusted place for charities to put their money to work, earning good interest. We also want to be an active partner, helping those charities which can benefit from the skills and know-how of our teams and colleagues.
“We are keenly aware that charities sometimes struggle to find and fund the specialist skills they need and that we may have the experience and knowledge to plug those gaps.
“We recently launched our Charity Assist Mortgage, which homebuyers choose knowing that Hinckley & Rugby will then help homeless people move into a home and full-time work with homelessness charity Emmaus Leicestershire & Rutland.
“The new Charity Accumulator similarly adds a new dimension to our community engagement, by inviting charities to see the Society as far more than a financial service provider. We have knowledge to share with them from running a successful business for more than 150 years.”
The Charity Accumulator comes in two versions – a 90-day notice pays 1.20 per cent interest and an easy access version pays 0.75 per cent. Both are variable rate accounts with a minimum deposit and balance of £1,000 and £500 respectively and a maximum deposit of £500,000.
Recent months have also seen Hinckley & Rugby introduce charity champions at some of its branches. Sarah Boneham (Rugby and Nuneaton), Rita Hawkins (South Wigston and Lutterworth), and Jamie Clarke (Hinckley, Coalville and Broughton Astley) are leading their branches’ volunteering and other activities.
Rita Hawkins said: “We’re keen to grow our involvement with our communities in Leicestershire and Warwickshire and looking forward to welcoming our new Charity Accumulator customers to our branches to see how we can work together.”
Details of the Charity Accumulator are at: hrbs.co.uk/savings/charity-accounts