Principality Charity Bond to benefit Wales Air Ambulance
Wales' largest building society, Principality, is celebrating its support for the life-saving Wales Air Ambulance emergency service with the launch of its first Charity Bond.
Paying a fixed interest rate of 2.50% AER until 31st December 2011, the Wales Air Ambulance Bond will reward savers in Wales - and the Principality's adopted charity of the year.
An additional 0.10% interest on the balance of every Bond opened will be calculated from the date of launch to 31st December 2011 and donated to the Wales Air Ambulance.
Available online, via the post and in any of the 52 Principality branches across Wales and the Borders, the Charity Bond is being launched on 21st April and is available for a limited period.
The Bond can be opened with a minimum deposit of £500, up to a maximum of £1,000,000. Additional deposits can be made into the Bond while it remains on sale, and withdrawals are not permitted until maturity.
Kate Murray, Savings Manager at Principality Building Society, said: "We are delighted to be launching our first ever Charity Bond which we hope will raise some much needed funds for a truly worthwhile cause, the Wales Air Ambulance. The Wales Air Ambulance Bond will allow savers to enjoy a competitive rate of interest whilst contributing to a charity that makes a real difference to the communities of Wales."
Staff at Principality were asked to nominate a charity to support for 2011 - and more than a third of them voted for the flying ambulance service that will be marking its 10th anniversary this year in saving lives.
The Principality fundraising will be kick-started at the Society's annual general meeting this Thursday, April 21st - on the day the new Charity Bond is launched - when £1 will be donated to the charity for every Principality member who takes part in the voting procedure, up to a maximum of £20,000.
The Wales Air Ambulance charity needs to raise more than £5 million a year to operate its service from bases at Caernarfon, Welshpool and Swansea airports. In its 10 years in the air, it has flown more than 14,000 missions and helped save thousands of lives across Wales.