Dudley Building Society launches new local business savings accounts

The accounts offer Black Country businesses, charities and clubs savings interest rates as high as 4.25 per cent for their 90-day notice accounts.

Instant access accounts pay 3.50 per cent interest, meaning an account with £100,000 in an account can get £3,500 in returns without needing to lock money away for a fixed time.

James Paterson, Chief Executive at the Dudley, said: “We are committed to being there for our local savers, whether that’s personal savers, businesses, clubs or charities.

"We’re aware that the local bank closures are limiting the availability of face to face savings accounts for the community, so we want to ensure that we’re there to offer face to face services and market leading interest rates.”

He added: “We’ve been there for local communities since 1858, and we don’t take this position for granted. We want to generate prosperity in the region, so offering local business and community savings accounts is just one of the actions we’re taking to provide support.”

The Dudley have also pledged two per cent of their profits to the community for the second year in a row, having previously offered a Community Support Fund to give back to community heroes at the start of the year.

Mr Paterson added: “Our Community Fund allowed us to provide much needed support to local charities within the region.

"The charities that we supported provide basic necessities to local people in difficult times, such as food, healthcare, and clothing. At our Annual General Meeting, we wanted to further celebrate the dedication of these local community heroes, inviting some of the charities that we supported to join us on the day.

"We look forward to continuing to serve the needs our local communities, with the goal of helping people to live better lives.”