Coventry online savings account with added Poppy Appeal

Coventry Building Society has enhanced its award-winning partnership with The Royal British Legion by launching Poppy Online Saver, a market-leading internet savings account.

Poppy Online Saver is an easy access internet savings account that pays 3.10% AER. Four penalty-free withdrawals are permitted each year, with further withdrawals possible with the loss of just 50 days interest.

The account, which is operated entirely online, can be opened with as little as £1 with a maximum investment of £250,000.

The Royal British Legion's Poppy Appeal, whose record year in 2010 was helped by a donation of over £1.7 million from Coventry Building Society, will benefit from a new donation based on the average balances held in Poppy Online Saver for each 12 month period.

Colin Franklin, Sales and Marketing Director at Coventry Building Society, said: "We have been clear on what we needed to do since we launched our partnership with the Legion. The combination of a great rate to our customers and a significant donation to the Poppy Appeal has proved to be highly successful. I am confident that Poppy Online Saver will prove extremely popular and that we will add significantly to the £5 million we have donated to the Appeal since 2008."

Russell Thompson OBE, The Royal British Legion's Director of National Events and Fundraising, said: "The partnership with Coventry Building Society, our Corporate Partner of the Year, continues to exceed our expectations. The Legion's support for wounded, injured and long-term sick Service personnel and a £50 million commitment to fund the operating costs of four Personnel Recovery Centres and the Battle Back Centre is helped enormously by the donations enabled by Coventry Building Society members. I am extremely grateful for the support we receive from the Society and its membership."