Newcastle Building Society has launched a charity ISA with the Sir Bobby Robson Foundation.
The account is called the ‘Sir Bobby Robson Foundation ISA’. It offers savers a rate of up to 2.6 per cent, while paying an additional 0.1 per cent of the average balance held in all Sir Bobby Robson Foundation ISAs at the end of each month to the Sir Bobby Robson Foundation annually. This translates as £10 per £10,000.
This is the second charity ISA launched in recent months. Late last year, the Coventry Building Society launched its Poppy Bond. The 18-month fixed-rate bond, which is now closed to new customers, pays savers 3.55 per cent and donates 0.05 per cent of the value of all deposits to the Royal British Legion’s Poppy Appeal.
Sir Bobby’s widow, Lady Elsie Robson, said: “It was a great pleasure to help launch this new account and we’re grateful to the Newcastle for thinking of the Sir Bobby Robson Foundation.
“It’s a very creative way of helping the charity and we will ensure every penny donated is spent wisely.”
The charity’s aim is to find more effective treatments for cancer, including clinical trials of new drugs at the Sir Bobby Robson Cancer Trials Research Centre.
Jim Willens, Newcastle Building Society’s chief executive, said: “Before launching the account, customer research was undertaken, which indicated that they would like us to support charities linked to health and old age. As such, the Sir Bobby Robson Foundation is a great fit with the Society as it is a cancer research charity, which raises money to fund the early detection and treatment of cancer.
“Our product allows people to save tax-free while helping a good cause. We’re really looking forward to the support we aim to bring to the Foundation as a result of this partnership, which we hope will be a long-term fixture.”