The Greater Manchester and Cheshire-based building society has launched two new fixed-rate bonds for eligible charities and businesses that have funds they do not need immediate access to and want to place securely for a defined term. The products are aimed at organisations looking not only for certainty when planning ahead, but also for a financial partner whose values align with their own.
The Business Fixed-Rate Bond and Charity Fixed-Rate Bond both pay 3.60% Gross/AER* and run until September 30, 2027. Organisations can deposit between £5,000 and £250,000, giving them the opportunity to secure a known return on surplus funds while retaining a relationship with a local, independent mutual.
Unlike many savings providers, the bonds come with access to a dedicated relationship manager, providing organisations with personal guidance and support, helping charities and businesses feel looked after rather than treated simply as an account number.
Ian Wilson, Savings Business Development Manager at Vernon Building Society (pictured above), said: “For charities and businesses, every pound has a purpose, so it’s important that surplus funds are working as hard as possible while giving organisations the certainty they need to plan ahead. Our new fixed-rate bonds offer a clear return over a defined term, supported by personal service from our experienced savings team.
“For many organisations, choosing where to place their savings is about more than the rate alone. It is also about finding a provider that understands their priorities and shares their commitment to the communities they serve. As a local mutual, the Vernon is proud to offer charities and businesses the opportunity to earn a fixed return while keeping their funds with an organisation that has a clear local purpose.”
Because the Vernon is a mutual building society, every account opened helps it do more for its members and local communities. Alongside helping people save and buy their homes, the Society supports the people and places at the heart of Greater Manchester and Cheshire.
Vernon Building Society supports the communities it serves through the Vernon Charitable Foundation and Community Stars programme, which together awarded more than £37,500 to local charities and not-for-profit organisations in 2025. The Society also reached over 1,700 students through its financial education programme last year, while colleagues dedicated 100 volunteering days to local causes.
For organisations exploring their savings options, more information about the Vernon’s wider range of business and charity accounts is available at www.thevernon.co.uk/savings/business-and-charity-accounts/
*Gross means it does not take income tax off the interest. AER (Annual Equivalent Rate) differs from the Gross annual interest rate if interest is paid more than once a year. If interest is added to the account, it also earns interest, and the AER reflects this by showing the rate as if interest were paid annually.
