LONDON, UNITED KINGDOM--(Marketwired - Jun 14, 2013) - Coventry Building Society is delighted to launch a new Race for Life Bond in partnership with Cancer Research UK.

The Race for Life Bond is a 22 month, savings bond paying the highly competitive rate of 2.10% AER/gross p.a., fixed until 30 April 2015. In addition, the Society will donate a sum equal to 0.10% of the total balances held in the bond to fund Cancer Research UK's life-saving work.

The partnership with Cancer Research UK is a natural development of the Society's award-winning approach to charitable accounts, which combines competitive interest rates and a significant donation to the charity. It builds on the success of the Society's Poppy portfolio, through which over £8 million has been donated to The Royal British Legion's Poppy Appeal in the last 5 years.

Colin Franklin, Sales and Marketing Director Coventry Building Society, said "I am delighted we are launching the Race for Life Bond. Cancer Research UK gives hope to thousands of people through its ground-breaking research. We really want to encourage support for its work, and by doing the right thing for savers we hope we can improve the prospects of thousands of cancer sufferers."

Caroline Silke, head of corporate partnerships at Cancer Research UK, said "We're thrilled to be working with Coventry Building Society to raise vital funds for Cancer Research UK's life saving work. We're living in a golden age of cancer research, taking some extraordinary steps forward in understanding how to tackle the disease, and the money raised through the Race for Life Bond will help us find new and kinder treatments to ensure more people survive cancer in the future."

Please read accompanying notes:

Information correct at time of going to print (June 2013) and may be updated and amended at any time

Key features of the account:

• Interest Rates

AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year. The gross rate is the interest rate payable before the deduction of tax.

• Coventry Building Society will make a donation to Cancer Research UK (Registered Charity no. 1089464) equal to 0.10% p.a. of the total balances invested in the Race for Life Bond at close of business on 31^st August 2013.

• Annual interest will be paid on 30 April each year. Monthly interest will be paid on the last day of each month.

• Annual interest can be added to the account or paid away to another account either with us or another bank/building society. Monthly interest must be paid away.

• The minimum opening deposit is £1. The maximum investment limit is £250,000.

• Deposits must be made within 10 days of opening this fixed bond. Additional deposits can be added as long as this bond is available to new investors or for a period of 7 days after the initial investment, whichever is longer.

• Deposits can be made by:

  • electronic payment from a bank/building society;

  • transfer from another Coventry account;

  • cheque paid in at a branch/agency or posted to our central processing centre; or

  • cash at a branch.

• Partial withdrawals or closure prior to the end of the fixed term are not allowed after the 14 day cancellation period (except on the death of a sole account holder).

• At maturity savings will be automatically reinvested unless customers instruct us otherwise. Customers may withdraw or transfer penalty-free, within 21 days of maturity.

• Minimum age is 18 years.

• Customers may apply:

  • Over the telephone on 0845 766 5522.

  • At thecoventry.co.uk.

  • In any of our branches or agencies.

  • By post

Information about Coventry Building Society

Coventry Building Society is the third largest building society in the UK with assets exceeding £26.9 billion.

The Customer Service Centre is open Monday to Friday 8am - 8pm, Saturday 9am - 5pm and Sunday 10am - 4pm. Telephone self-service is available 24 hours a day, 365 days a year. Call costs may vary, please contact the service provider for details of call charges. To maintain a quality service, calls made to and from the Society may be monitored and recorded.

Information about Cancer Research UK

www.thecoventry.co.uk