Monmouthshire Building Society launches savings account supporting charity partner

Daniel Bevan - Editor

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Monmouthshire Building Society has introduced a new savings product designed to benefit both customers and its charitable partner, with a portion of interest payments directed to good causes.

The Support and Save Account offers an interest rate of 2.25% AER/Gross annually.

Of this, 1.75% is paid to customers, while the remaining 0.50% is donated to the building society’s headline charity.

St David’s Hospice Care, the society’s current charitable partner, will be the first to benefit from the initiative.

The organisation provides palliative and end-of-life care to patients and support for families and carers across south east Wales, and is one of the UK’s largest providers of hospice-at-home services.

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.”

“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.”

Alongside the account available to the public, the building society has also launched a separate version of the account for its employees and staff at St David’s Hospice Care, enabling additional contributions to the charity.

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.”