Save & Support Accounts

Available to those with a Cumberland Plus current account
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SAVE & SUPPORT ACCOUNT OPTIONS

Save for you and support others

Cumberland Blues Account (Issue 3)
Helping support Carlisle United
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Variable interest rate up to 0.65% Gross interest(1)/AER(2)

Plus 5% discount in the club shop, 10% discount on hire of function room and conference facilities, entry into a Carlisle United regular free prize draw, special passbook

The Blues benefit from an annual donation from the Cumberland equivalent to 1% of the total average balance of all Cumberland Blues savings accounts during the year

Up to 6 instant access penalty free withdrawals each calendar year
Hospices Account (Issue 3)
Helping support local hospices
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Variable interest rate up to 0.65% Gross interest(1)/AER(2)

Hospices benefit from an annual donation from the Cumberland equivalent to 1% of the total average balance of all Cumberland Hospices accounts during the year. The 1% donation will be split equally between Eden Valley Hospice and Hospice At Home

Up to 6 instant access penalty free withdrawals each calendar year

Account Details

Key Product Information Summary Box

Minimum balance What is the interest rate? Variable Gross Interest1/AER2

£25,000

0.65%

£10,000

0.50%

£5,000

0.30%

£100

0.10%

Interest paid

Interest is calculated on a daily basis, and is paid gross (without deduction of tax) annually on 31 March.

Can Cumberland Building Society change the interest rate?

Yes. The rate of interest paid on money in your account is variable and may be changed by us. Where we do so, we will give you reasonable notice in advance of the change.

Examples of when changes may happen include a change in the Bank of England base rate, or market condition changes such as, general interest rates changes on similar accounts offered by other savings account providers.

For further details, please read clause 8.7-8.9 in our Savings & Current Account Terms & Conditions leaflet.

What would the estimated balance be after 12 months based on a £100 deposit?

If £100 was deposited in the account on opening on 1 April, assuming no further deposits or withdrawals are made, on 31 March the account balance, including interest would be £100.10.

What would the estimated balance be after 12 months based on a £5,000 deposit?

If £5,000 was deposited in the account on opening on 1 April, assuming no further deposits or withdrawals are made, on 31 March the account balance, including interest would be £5,015.

What would the estimated balance be after 12 months based on a £10,000 deposit?

If £10,000 was deposited in the account on opening on 1 April, assuming no further deposits or withdrawals are made, on 31 March the account balance, including interest would be £10,050.

What would the estimated balance be after 12 months based on a £25,000 deposit?

If £25,000 was deposited in the account on opening on 1 April, assuming no further deposits or withdrawals are made, on 31 March the account balance, including interest would be £25,162.50.

These figures are for illustrative purposes only.
How do I open and manage my account?

This account is available to open at any Cumberland branch, for customers who live in our operating area.

The account must have a minimum opening balance of £100.

You can manage your account by:

Can I withdraw money?

Yes. Up to 6 instant access penalty free withdrawals each calendar year.

If more than 6 withdrawals are made in a calendar year the account will be transferred to either an existing or new Instant Savings account.

Withdrawals not permitted by direct debit, standing order, regular internal transfer or faster payments.

Additional Information?

The account is restricted to one per person.

It can only be opened as a share account to individuals who are investing their money on their own behalf or on behalf of another person (i.e. a parent/guardian or on behalf of a child).

We will make an annual donation to Carlisle United Football Club, equivalent to 1% of the total balances held in the account.

To obtain entry to Carlisle United’s regular free prize draw for Cumberland Blues Savers you should tick the appropriate box on the application form.

No bonus payment applies to this account.

1. Gross interest is the contractual rate of interest payable (without deduction of tax) and you will be responsible for paying any tax you owe on interest as per your individual personal savings allowance.

2. Annual equivalent rate (AER) illustrates what the interest rate would be if interest was paid and added each year

Key Product Information Summary Box

Minimum balance What is the interest rate? Variable Gross Interest1/AER2

£25,000

0.65%

£10,000

0.50%

£5,000

0.30%

£100

0.10%

Interest paid

Interest is calculated on a daily basis, and is paid gross (without deduction of tax) annually on 31 March.

Can Cumberland Building Society change the interest rate?

Yes. The rate of interest paid on money in your account is variable and may be changed by us. Where we do so, we will give you reasonable notice in advance of the change.

Examples of when changes may happen include a change in the Bank of England base rate, or market condition changes such as, general interest rates changes on similar accounts offered by other savings account providers.

For further details, please read clause 8.7-8.9 in our Savings & Current Account Terms & Conditions leaflet.

What would the estimated balance be after 12 months based on a £100 deposit?

If £100 was deposited in the account on opening on 1 April, assuming no further deposits or withdrawals are made, on 31 March the account balance, including interest would be £100.10

What would the estimated balance be after 12 months based on a £5,000 deposit?

If £5,000 was deposited in the account on opening on 1 April, assuming no further deposits or withdrawals are made, on 31 March the account balance, including interest would be £5,015.

What would the estimated balance be after 12 months based on a £10,000 deposit?

If £10,000 was deposited in the account on opening on 1 April, assuming no further deposits or withdrawals are made, on 31 March the account balance, including interest would be £10,050.

What would the estimated balance be after 12 months based on a £25,000 deposit?

If £25,000 was deposited in the account on opening on 1 April, assuming no further deposits or withdrawals are made, on 31 March the account balance, including interest would be £25,162.50.

These figures are for illustrative purposes only.
How do I open and manage my account?

This account is available to open at any Cumberland branch, for customers who live in our operating area.

The account must have a minimum opening balance of £1.

A minimum balance of £1 must be maintained in the account. If the account balance falls below this at any time, the account will be closed.

You can manage your account by:

Can I withdraw money?

Yes. Up to 6 instant access penalty free withdrawals each calendar year.

If more than 6 withdrawals are made in a calendar year the account will be transferred to either an existing or new Instant Savings account.

You will not be eligible to open another hospice account for 12 months after the closure date.

Withdrawals not permitted by direct debit, standing order, regular internal transfer or faster payments.

Additional Information?

The account is restricted to one per person.

It can only be opened as a share account to individuals who are investing their money on their own behalf or on behalf of another person (i.e. a parent/guardian or on behalf of a child).

We will make an annual donation to the hospices, equivalent to 1% of the total balances held in the account.

No bonus payment applies to this account.

1. Gross interest is the contractual rate of interest payable (without deduction of tax) and you will be responsible for paying any tax you owe on interest as per your individual personal savings allowance.

2. Annual equivalent rate (AER) illustrates what the interest rate would be if interest was paid and added each year

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Here 7 days a week. Until 8pm on weekdays.
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A first-class, personal & friendly service
Conveniently located town centre branches
Range of accounts with competitive interest rates
Long term benefits of mutuality

MANAGING YOUR SAVINGS

A personal, friendly service and convenience at your fingertips

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Internet Banking
On computer, tablet and smartphone
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View your balances and transfer money between your accounts via secure message. Safely and securely. Current account required
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Mobile Banking App
Available on iPhone and Android phones
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View the balances of your accounts, without even logging on should you wish. Safely and securely. Current account required
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In Branch
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When you're out and about, a friendly local branch team are nearby to help you 6 days a week

Where Are You?

We welcome new applications from new and existing customers who live within our branch operating area.

We do not accept new accounts from new customers who live outside our branch operating area. Some restrictions may also apply to new accounts available to existing customers who live outside our branch operating area.

Our operating area is:

  • Cumbria (all CA and LA postcodes)
  • South-West Scotland (all DG postcodes and TD9)
  • West Northumberland (NE46-49)
  • North Lancashire (all PR, FY, LA AND BB1-2 and BB5-7)

How to open an account

You need to arrange an appointment at your local branch (Monday to Saturday). Alternatively, call into your local branch and speak to one of our team.

Unless you have an account with us already, we will need you to provide proof of your identity and evidence of your address. Please bring one original document of each. Acceptable documents include:

Proof of identity
  • Current valid signed passport
  • Current UK photocard driving licence
  • Firearms certificate or shotgun licence
  • A blue disabled drivers pass
  • An EU photocard driving licence
Evidence of your address
  • Recent utility bill dated within the last six months (mobile phone bills cannot be accepted though)
  • A council tax bill valid for the current year
  • Bank, building society or credit union statement dated within the last six months

If you open an account as a trustee, we will need proof of identity and evidence of address for both you and the account holder. If you do not have any of the above, please contact us before you visit.

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FSCS Logo (Small) FSCS Logo (Large)

Your eligible deposits with Cumberland Building Society are protected up to a total of £75,000 by the Financial Services Compensation Scheme, the UK's deposit protection scheme. Any deposits you hold above the limit are unlikely to be covered.

Further information is available here or visit www.fscs.org.uk.

Instant Savings Account (Issue 4)

Minimum balance Gross interest1/AER2
£25,000 0.60% (0.35% from 17/11/16)
£5,000 0.45% (0.20% from 17/11/16)
£100 0.20% (0.10% from 17/11/16)
Interest paid Yearly on 31st March
Tax Status Interest is paid gross (without deduction of tax)
Conditions for bonus payment No bonus payment applies to this account
Withdrawal arrangements Instant access, subject to the minimum operating balance of £100 being maintained. If the account balance falls below £100 at any time, the account will be closed. Withdrawals not permitted by direct debit, standing order, regular internal transfer or faster payments.
Access Local branch | Telephone: (01228) 403141 (transfer between own Cumberland accounts)