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Hinckley & Rugby Building Society has launched new savings accounts designed specifically for Town and Parish Councils, offering a secure and efficient solution for managing surplus funds.

These accounts address common challenges councils face, such as simplifying the account opening process, providing flexible withdrawal protocols, and easing the management of authorised signatories. They also offer a broader selection of savings options with competitive interest rates, all without any account fees, ensuring councils can maximise returns while minimising administrative burdens.

Key Features of the New Local Council Accounts:

1. Simplified Account Opening Process: The new accounts dramatically reduce the volume of documentation required to get started, streamlining the onboarding process and saving valuable time for council administrators.
2. Flexible Withdrawal Protocols: Unlike traditional accounts that mandate multiple signatures for withdrawals, these savings accounts offer a more flexible system, making it easier for councils to access their funds while maintaining robust security measures.
3. Effortless Signatory Updates: Updating signatories has always been a challenge for Parish Councils. These accounts introduce a hassle-free process to manage and update authorised signatories, ensuring smooth transitions and uninterrupted access to funds.
4. Wider Selection of Savings Options: Recognising the limited choice of suitable savings accounts available to councils, these new products offer competitive options, catering to the unique financial needs of Parish Councils.
5. Competitive Interest Rates: These accounts boast competitive interest rates, ensuring that Parish Councils can maximise the returns on their surplus funds without compromising on safety or accessibility.
6. Zero Account Fees: To alleviate the burden of administrative costs, the new savings accounts come with no account fees, providing a cost-effective solution for managing council funds.

For more information, contact Hinckley & Rugby directly, or visit the website.