Coventry Building Society are once again hoping to appeal to people’s sense of charity by launching their Poppy Appeal bond, a savings account that offers a 3.25% fixed rate until December 31st 2014 and allows people to put between £1 and £250,000. What’s more, 0.05% of the total funds that the building society gets from the bonds will be given to the Poppy Appeal.
The Poppy Appeal Bond has been running since 2008 and it’s been a winning recipe for both the building society and the British Legion, the charity behind the Poppy Appeal. Colin Franklin, Coventry Building Society’s sales and marketing director, spoke of how the bond has really captured people’s attention: “Poppy Bond has proved to be a winning combination since its launch in 2008. The work of The Royal British Legion continues to be as important and relevant as it has ever been and we are hoping this new Poppy Bond will lead to another fantastic donation.”
The charity are pleased with the return of the bond as well, as Chris Simpkins, the director general of the Royal British Legion, greeted its reappearance with the following statement: “This fantastic partnership continues to deliver greatly needed help to serving and ex-serving members of Britain’s Armed Forces and their families. Thanks to the support of the Coventry nearly £7million has been raised for the Poppy Appeal since 2008. This is an extraordinary amount and is helping to fund numerous projects including our rehabilitation centres for injured servicemen and women.”
There have been plenty of instances of people jumping on board financial products that they perceive as doing good. As well as this savings bond, which has enjoyed success year after year, there are the micro loans investment systems that allow people to directly loan their money out to businesses in impoverished areas. It seems that these forms of ethical banking are becoming ever more popular.