Tipton and Coseley Building Society has launched a new savings account designed to help Midlands Air Ambulance Charity.
The Tipton's new 30 Day Notice Midlands Air Ambulance Saver will support the lifesaving service, which solely relies on support from local donors and businesses for its 3,000 missions each year.
The 30 Day Notice Midlands Air Ambulance Saver has a minimum opening deposit of £1,000 and customers can pay in a maximum of £100,000 during the lifetime of the account. A variable interest rate of 1.1 per cent gross / AER applies and customers can make a maximum of three withdrawals per calendar year.
The Society will pay 0.1 per cent to Midlands Air Ambulance Charity at the end of each year, based on the average balances held in the accounts at no cost to the saver.
In 2019, the Tipton raised over £9,500 for Midlands Air Ambulance Charity through a range of fundraising activities, which boosted the service’s lifesaving operation.
Richard Newton, Chief Executive at the Tipton said: "Our 30 Day Notice Midlands Air Ambulance Saver is designed for those who want to put some savings away each month. At the same time, they earn interest on their savings whilst supporting Midlands Air Ambulance Charity and the great work they do for the local community."
Emma Gray, fundraising and marketing director for Midlands Air Ambulance Charity, added: “We are extremely grateful to The Tipton for developing a savings account in our name. This type of strategic support, where businesses offer their services in connection with our cause, is becoming ever-more important to the charity sector. It is an excellent example of how we can work in partnership to assist local people, as well as raise profile and funds for our vitally important service.”
For further information, please visit: www.thetipton.co.uk/midlandsairambulance
*Gross means the contractual rate of interest payable. AER stands for the Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. Products can be withdrawn at any time. Rates correct as at date of going to press.