Notice of Interest Rate Reduction effective 1st March 2017

31 January 2017

On 1st March 2017 we are reducing the interest rates on some of our savings accounts. We continue to operate in a low interest rate environment, whilst balancing the interests of our savers and borrowers. We have continued to protect our savings interest rates for as long as possible by paying above the market rate, where some banks and building societies have decreased their rates sooner.

With this in mind, and after careful consideration, we have decided to decrease the interest rates on our savings products to ensure we continue to operate efficiently, and protect the Society for the future. Whilst we understand this will be disappointing for you, we remain committed to providing competitive savings and mortgage products, to meet our core values.

These changes are in line with our General Terms and Conditions for Savings Accounts and we will be writing to affected account holders to give notice.

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