Marsden launches Red Rose Responding Fund business affinity accounts

Marsden Building Society has launched a range of business affinity accounts designed to support the Community Foundation for Lancashire’s Red Rose Responding Fund, whilst meeting the diverse savings needs of small and medium-sized enterprises (SMEs).

The latest additions to the Society’s portfolio offer interest rates of up to 4.50 per cent and varying levels of access for increased flexibility.

Available to open via the Society’s website or by post, the accounts are exclusively designed for UK-based Limited Companies, Limited Liability Partnerships or Partnerships.

Each year, the Society will donate 0.25 per cent of the total average balance of all business deposit affinity accounts to the Lancashire Red Rose Responding Fund, which supports the mental health and well-being of those in our region. This means that the more money saved in those accounts, the more money the Society will donate.

The accounts on offer include:

• Business Deposit Affinity Notice 95 (Issue 1) at 4.50% AER* variable
• Business Deposit Affinity Notice 35 (Issue 1) at 4.00% AER* variable
• Business Deposit Affinity Easy Access (Issue 1) at 3.50% AER* variable

A minimum deposit of £5,000 is required to open any business deposit affinity account from the Marsden. Terms and conditions for each product can be found on the Society’s website.

Eligible businesses must also have less than 250 employees, and either an annual turnover of no more than £42.5 million and/or an annual balance sheet totalling no more than £36.5 million.

Rob Pheasey, chief executive at Marsden Building Society, said: “Being a mutual organisation puts us in the unique position to make a real difference to the lives of those living and working in our communities.

"These business deposit affinity accounts are part of our wider initiative to leave a lasting impression on the neighbourhoods we serve, through financial contributions to meaningful and local projects.

"All the money donated comes directly from the Society, so businesses can grow their savings whilst helping us do something truly amazing for local people.”

Karen Morris, development director and deputy CEO at Community Foundation for Lancashire, added: “We’re delighted to partner with Marsden Building Society on his valuable initiative to provide ongoing support for mental health charities across Lancashire.

"An affinity savings account is an excellent way for supporters to help raise vital funds while ensuring a safe place for their business savings.

“We’d like to extend a huge thank you to those who’ve already opened an account, as well as to those who will in the future. Your contributions will help to ensure accessible mental health support is available for those who need it most.”

The Lancashire Red Rose Responding Fund invites local charities, and voluntary and community organisations to apply for grants of up to £3,000 to fund mental health-related projects.

To apply for a business deposit account, or to view the full criteria, visit www.themarsden.co.uk.

*AER stands for the Annual Equivalent Rate and shows you what the interest rate would be if interest were paid and added each year. Products can be withdrawn without notice.