Specialist lender Cambridge & Counties Bank has launched a new, dedicated banking service for charities in the UK with deposits over £1 million.
The launch builds on a strong foundation of serving the charity sector. As of January this year, Cambridge & Counties Bank had more than 1,300 charity customers with around £115 million in deposits.
The new proposition will include specialist customer support, dedicated contacts, and a straightforward application process. Rates of up to 4.60% gross/AER fixed on the bank’s fixed rate charity savings are currently available¹.
New research by Cambridge & Counties Bank among its charity customer base² found interest rates are by far the biggest driver when it comes to account selection (cited by 97%), followed by type of account (54%) and reputation of the bank (52%).
Over 40% said they found it difficult to find a savings account in the wider marketplace. Almost 40% said a simplified savings account application process is a top priority for them, with short-term (under two years) fixed rate accounts cited by 50% as the savings products which best fit their needs.
Cambridge & Counties Bank has long focused on offering its charity clients competitive rates. In April this year, the bank won the prestigious Business Moneyfacts Awards in the Best Business Fixed Account Provider category³, a testament to its deep focus on supporting its clients.
Sarah Barker, Chief Commercial Officer at Cambridge & Counties Bank, said:
“We have been serving the needs of the UK charity sector with straightforward banking for many years. It is clear our proposition has become increasingly attractive to more and more charities, leading us to formalise a new proposition for larger charities looking for a more bespoke service.
“Charities can be a differentiated customer with specific banking requirements and a need to speak with knowledgeable staff. This relationship-based approach underpins our wider business model and is a fundamental part of our new service.”
¹Rates correct as at 24/04/2025. 4.60% gross/AER fixed is based on a 6 month fixed rate account (paying interest annually). Different AER rates apply for different savings accounts. The rate offered for our fixed rate savings accounts are subject to change and may be withdrawn at any time without notice. AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. Interest is paid gross. It is your responsibility to pay any tax that may be owed to HMRC. A minimum deposit of £10k must be made with a maximum deposit of £5m. Terms and conditions apply. Please visit ccbank.co.uk/frbt&c for full terms and conditions.
²Survey sent to 1,365 respondents at the end of January 2025 through an online methodology. 146 completed responses secured
³https://www.moneyfactsgroup.co.uk/awards-and-events/business-moneyfacts/winners-2025/