Supporting the Homeless Affinity Account

This account allows you to support a number of charities, all working to combat homelessness. The account is an evolution of our previous affinity accounts with more benefits. For you, the saver, a better rate of interest is available which increases as your balance does, and for the nominated charity, greater long term financial support from us.

All of the accounts operate in the same way. All you have to do is select which of the charities you would like to support. Below there is some more information on each of the charities under the Supporting the Homeless umbrella. There is a link to each charity’s website should you wish to read more in depth about its aims and achievements.

On an annual basis we will calculate the average balance of your account and donate 1.00% to your selected charity.

With aggregate balances of £2,000,000 we will be able to make a potential donation of over £20,000 each year.

Key Benefits of this offer

• Higher interest rate than other affinity accounts
• Keep your capital and donate at the same time

The Catholic Building Society is committed to ethical investment and supporting charities involved with housing.

• Minimum investment £1
• Maximum investment £150,000.
• As this is an account of limited availability, the Society reserves the right to amend or withdraw the account without notice at any time.
• Save what you like when you like. Ideal for regular or lump sum savings – you choose, it is so simple. You can start with a minimum investment of £10 and as your savings grow, we will pay you an increasing rate of interest on the entire balance. The more you save, the higher the interest rate. Catholic Building Society Supporting the Homeless Account rates are set out on our rates page.

Interest

Interest is paid yearly on 31st December. You can choose to have this income sent to your bank account or you can leave it to accumulate in your account where it will become part of the capital and thus earn interest. You select whichever method suits you best and you can switch in the future, if your needs change.

Check the current interest rates.

Tax

If any of the persons for whose benefit the account is held is a non-taxpayer interest may by paid gross (without deduction of tax) to them provided they are eligible and Inland Revenue Form R85 is completed, signed and returned to us.

We will provide you with the appropriate form if you ask. Any interest paid before we are able to process the form(s) will be paid after deduction of tax at the applicable rate. If you ask the Inland Revenue they will tell you if you are entitled to recover this tax.

Opening your Supporting the Homeless Affinity Account

There are three methods available:-

1. You can withdraw from your account by calling at our Westminster office.
2. By post. Just use the FREEPOST envelope and let us have your written instructions together with your passbook.
3. If you wish to save regularly we can let you have a standing order mandate to give instructions to your bank. You select the amount and your bank will make transfers regularly once it has your instructions.