Coventry Building Society

Coventry Building Society

November 06, 2013 05:45 ET

Coventry Building Society Launches Two New Poppy Bonds to Support the Royal British Legion's Poppy Appeal

LONDON, UNITED KINGDOM--(Marketwired - Nov. 6, 2013) -

Editors Note: There is one photo associated with this press release.

Coventry Building Society is delighted to announce the launch of two, medium term, fixed rate Poppy Bonds, the latest additions to the successful Poppy range which has helped raise over £8.6 million for the Poppy Appeal since 2008. Available from Wednesday 6th November;

- Poppy Bond (26) fixed rate savings bond paying a highly competitive rate of 2.60% AER/gross pa until 30.04.2017. In addition the Coventry will make a donation to the Poppy Appeal equal to 0.10% of the total balances invested in this Poppy Bond.

- Poppy Bond (27) fixed rate savings bond paying a competitive rate of 2.50% AER/gross pa until 30.04.2017. In addition the Coventry will make a donation to the Poppy Appeal equal to 0.45% of the total balances invested in this Poppy Bond.

Colin Franklin, Sales and Marketing Director at the Coventry added: "Poppy Bonds have proved to be incredibly popular since they were first launched in 2008. And this year we are giving savers a choice of two Poppy Bonds, both with very competitive rates - one that offers the higher rate to the saver, the other that maximises the Society's donation to the Poppy Appeal. The cost to the Society is the same for both bonds, but by giving savers the choice we hope to increase still further the support we give to The Legion."

The Royal British Legion's Director of Fundraising Charles Byrne said: "Thanks to the support of Coventry members, over £8.6 million has been raised for the Poppy Appeal since 2008. This is an incredible amount which has helped fund numerous projects over the years including crisis grants, family breaks, benefits and money advice and at times sadly, inquest advice. Every year the demand for our services increases, so we are extremely grateful for everyone who chooses to invest in the Poppy accounts and support the work we do."

The Royal British Legion provides life-long care and support to serving members of the Royal Navy, British Army and Royal Air Force, reservists, veterans of all ages and their families. Currently, nearly 9.5 million people are eligible for this support and the Legion receives thousands of calls for help every year. The Legion also campaigns to improve the lives of service men and women and to remember the fallen through the Poppy Appeal. The Poppy affinity accounts have been designed specifically to assist this much valued work.

The Poppy Bonds will only be available for a limited period so savers need to act now. Customers can apply for Poppy Bonds (26) and (27) by calling the Customer Service Centre on 0845 7665522, visiting any branch of the Coventry or at www.thecoventry.co.uk.

Notes to Editors

Information correct at time of going to press 04.10.2013

Poppy Bond (26) - Key Features

  • Poppy Bond (26) can be operated by telephone, online or by post.
  • Interest rate of 2.60% AER*/gross pa fixed until 30th April 2017
  • Interest can be paid to the customer annually or monthly (Monthly rate 2.60% AER*, 2.57% gross p.a.,)
  • Minimum balance £1; maximum £250,000.
  • Minimum age 18 years.
  • No withdrawals or closure permitted during the term of the bond.
  • The donation to the Poppy Appeal will be calculated at close of business on 31 December 2013 and will be equal to 0.10% of the total balances invested in this account.
  • * AER stands for Annual Equivalent Rate and illustrates what the rate would be if interest was paid and added each year.

Poppy Bond (27) - Key Features

  • Poppy Bond (27) can be operated by telephone, online or by post. Interest rate of 2.50% AER*/gross pa fixed until 30th April 2017
  • Interest can be paid to the customer annually or monthly (Monthly rate 2.50% AER*,2.47% gross p.a.,) Minimum balance £1; maximum £250,000.
  • Minimum age 18 years.
    No withdrawals or closure permitted during the term of the bond.
  • The donation to the Poppy Appeal will be calculated at close of business on 31 December 2013 and will be equal to 0.45% of the total balances invested in this account.
  • * AER stands for Annual Equivalent Rate and illustrates what the rate would be if interest was paid and added each year.

Coventry Building Society

  • Coventry Building Society is the third largest building society in the UK with assets exceeding £28.6 billion.
  • The Customer Service Centre is open Monday to Friday 8am - 8pm, Saturday 9am - 5pm and Sunday 10am - 4pm. Telephone self-service is available 24 hours a day, 365 days a year. Call costs may vary, please contact the service provider for details of call charges. To maintain a quality service, calls made to and from the Society may be monitored and recorded.

Royal British Legion

The Royal British Legion stands shoulder to shoulder with all who Serve. It is the nation's leading Armed Forces charity providing care and support to all members of the British Armed Forces past and present and their families. It is also the national Custodian of Remembrance and safeguards the Military Covenant between the nation and its Armed Forces. It is best known for the annual Poppy Appeal and its emblem, the red poppy.

  • Registered charity number: 219279
  • Further information about the Royal British Legion can be obtained by visiting www.britishlegion.org.uk or contact 020 3465 9157

Case Study from the Royal British Legion

Lance Corporal Cassidy Little, aged 30, Peterborough

30-year old Royal Marine Cassidy was seriously injured by an IED while serving in Afghanistan in May 2011, losing his lower right limb in the incident.

Cassidy participated in a theatre project run jointly by the Legion and The Theatre Royal Haymarket Masterclass Trust to aid the recovery of wounded, injured and sick Service personnel called the Bravo 22 Company. Cassidy played the lead role in the 'Two Worlds of Charlie F', an original play created through the project and based on the real experiences of the personnel. It was shown on the West End stage and a subsequent UK tour to wide acclaim.

During his time at the Defence Medical Rehabilitation Centre (DMRC), Headley Court, Cassidy benefited from a cinema and entertainment center built by MediCinema (an organization that builds cinemas in hospitals and places of care) and funded by The Royal British Legion.

Cassidy said: "The theatre project funded by the Legion was a turning point in my recovery. While the medical teams put my body back together, taking part in the play 'Two Worlds of Charlie F' gave me back my self-esteem and confidence when it was at its lowest ebb.

"I've now started an acting career and I know the Legion will support me and my family, as it does with hundreds of service personnel every year in the transition from military to civilian life."

Case Study Coventry Building Society Poppy Account Holder

Michael Cooper, aged 65, a retired Royal Engineers Lieutenant Colonel, Hampshire

Michael Cooper has invested in Poppy Bonds for both himself and his mother since 2010. "I am lucky not to have needed the services provided by the Royal British Legion, unlike many service personnel who survived catastrophic injuries and need support, possibly for the rest of their lives. I am very happy to invest in the Poppy Bond; the rate is always competitive with the added bonus of a substantial donation to assist the wonderful work of the Legion. Thank you Coventry!"

To view the photo associated with this press release, please visit the following link: http://media3.marketwire.com/docs/cove1106.jpg

Contact Information