Why your supporters are wealthier than you expect. Course details.

Saving children with savings

Howard Lake | 16 September 1997 | News

Amid the windfall mania of this summer’s demutualisation of Building Societies, the Skipton Building Society has come up with an innovative scheme to keep carpetbaggers at bay and raise money for charity.

To deter those wishing to become a member simply to grab any potential windfall and run, the Society has pitched its minimum opening balance at £2,000. Unless you deposit at least £5,000, however, you have to make a £25 donation to the National Society for the Prevention of Cruelty to Children. The scheme has so far raised £200,000 for the charity.

“The question is why more of the so-called die-hard mutuals don’t do this, rather than the farce of excluding small savers – their traditional customer – with high opening balances, or simply turning people away”, says Steve Lodge, Personal Finance Editor of The Independent. “This is a nice idea for which the Skipton should be applauded”.

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Why your supporters are wealthier than you think... Course by Catherine Miles. Background photo of two sides of a terraced street of houses.

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