Dudley Building Society is boosting local business savings

12 Sep 2023

Published in: Member News

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The Society has launched a new range of savings accounts for local businesses, clubs and charities.

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Dudley Building Society are building on their commitment to local communities. As bank branches continue to close across the West Midlands region, there are limited face to face savings account options for local businesses, charities and clubs. Higher savings interest rates are also typically targeted at individuals, as opposed to business accounts.

In response to this, the Society have launched new local business savings accounts. These accounts offer businesses, charities and clubs the best savings interest rates in the UK* - as high as 4.25% for their 90-day notice accounts. Their instant access accounts pay 3.50% interest, meaning an account with £100,000 in an account can get £3,500 in returns without needing to lock their money away for a fixed time.

James Paterson, Chief Executive at the Dudley commented, “We are committed to being there for our local savers, whether that’s personal savers, businesses, clubs or charities. We’re aware that the local bank closures are limiting the availability of face to face savings accounts for the community, so we want to ensure that we’re there to offer face to face services and market leading interest rates.”

James continued, “We’ve been there for local communities since 1858, and we don’t take this position for granted. We want to generate prosperity in the region, so offering local business and community savings accounts is just one of the actions we’re taking to provide support.”

The Dudley have also pledged 2% of their profits to the community for the second year in a row, having previously offered a Community Support Fund to give back to community heroes at the start of the year. James commented, “Our Community Fund allowed us to provide much needed support to local charities within the region. The charities that we supported provide basic necessities to local people in difficult times, such as food, healthcare, and clothing. At our Annual General Meeting in July, we wanted to further celebrate the dedication of these local community heroes, inviting some of the charities that we supported to join us on the day.”

James added, “We look forward to continuing to serve the needs our local communities, with the goal of helping people to live better lives.”

For further information about Dudley Building Society’s new business savings accounts visit dudleybuildingsociety.co.uk/savings/business-savings

*Based on current business savings listings found at moneyfactscompare.co.uk.