Charitable Assignment 

Protecting our mutual future.

At Newbury Building Society, we’re proud to be a mutual organisation—run for the benefit of our members, not external shareholders. To help preserve this status, we introduced a Charitable Assignment scheme on 21 February 2000.

What Is Charitable Assignment?

New members are asked to assign any potential windfall conversion benefits to the Charities Aid Foundation (CAF) (Registered Charity No. 268369) for the first five years of their membership. This is confirmed through a declaration included in our savings account application forms.

What are windfall conversion benefits?

These are financial benefits that may be paid to shareholding members if the Society were ever to convert to a bank or be taken over. While such a change is highly unlikely, this measure helps protect the Society from speculative investors.

Why we do this

The scheme ensures that our services remain focused on genuine savers and long-term members. It also helps us continue delivering value without requiring high minimum investments.

About the Charities Aid Foundation

CAF is a long-established charity that distributes donations to causes withon our communities such as:

• Housing

• Education

• Health

• Social inclusion

Who is affected?

• New members: Required to sign the assignment declaration.
• Existing members (as of 21 February 2000): Not affected.
• Borrowing members: Not affected, as the scheme applies only to shareholding members.

Exemptions

The following account changes are not subject to the scheme:

• Transfer of an account from a deceased member to a personal representative.
• Transfer of a child’s account into their sole name.
• Transfer of a club or unincorporated account to new office holders.

Are we planning to convert?

No. We remain fully committed to being an independent mutual building society. This scheme supports that commitment.

Need more information?

Please call us on 01635 555700 (Mon–Fri, 9:00am–5:00pm) or you can email us