Archives: FAQ - Savings

Registration

You can register to attend our AGM and Members’ Meet-up 2018 here, which will take you to our dedicated Eventbrite registration page.

Registration is open to all members and non-members who are interested in finding out more about Ecology Building Society.

**REGISTRATION NOW EXTENDED TO THURSDAY 26 APRIL 2018**

Please register by 5.00 pm on Thursday 26 April 2018 (for catering purposes). We will contact you to confirm your place – if you have not heard from us by 5.00 pm on Thursday 26 April 2018, please contact us on 01535 650 770.

Please note: we will be taking photographs and filming the day for use on our website and in materials such as our newsletter. By attending this event you are giving your consent for us to film and take your photograph unless you tell us that you object to this.

Foundations Share

Key Features

  • Variable interest rate of 1.00% gross* p.a./AER**
  • Minimum interest rate guarantee of 1.00% gross* p.a./AER**
  • The maximum investment is £125,000
  • No notice withdrawals
  • Monthly savings options
  • Operation by free, First Class Business Reply post
  • View your account online via our Interactive facility (restrictions apply), request withdrawals and send secure messages
  • £5 minimum balance required to keep account open
  • Interest payable on 31 December
  • Statements issued annually in January
  • Voting rights available (1)

*We pay all savings interest gross, which means that no tax is deducted. It's your responsibility to pay any tax due, based on your individual circumstances. Tax rules may change in future.

**AER stands for Annual Equivalent Rate and provides a means of comparing interest rates by showing what the rate would be if interest was paid and added once a year.

1) Voting rights are available to those individuals aged 18 or over whose account balance was not less than £100 between the Society’s previous financial year end (or other date as specified in the rules) and the date of voting.

Groups and charities required documentation

What unincorporated charities need to open an account
  • An original charity letterhead
  • Provide details of the resolution to open the account and to authorise those who can operate it
  • Registered charities should state their registration number
  • A copy of the charity’s constitution and a copy of a directory entry showing membership of a wider organisation
  • The signatories who will be operating the account will each need to have their identity verified as specified for individuals
  • The initial deposit into the account must be made by a cheque drawn on the charity’s bank account
  • A personal cheque from one of the signatories will only be acceptable if the charity does not have a bank account
What corporate charities need to open an account
  • An original charity letterhead
  • Provide details on the application form of the resolution to open the account and to authorise those who can operate it
  • A copy of the charity’s memorandum and articles of association  and shareholders, if applicable
  • The trustees who will be operating the account will each need to have their identity verified as specified for individuals
  • The initial deposit into the account must be made by cheque drawn on the charity’s bank account
What unincorporated groups need to open an account
  • An original group letterhead
  • A copy of the constitution and a copy of a directory entry showing membership of a wider organisation
  • The signatories who will be operating the account will each need to have their identity verified as specified for individuals
  • The initial investment into the account must be by a cheque, drawn on the group’s bank account
  • A personal cheque from one of the signatories will only be acceptable if the group does not have a bank account