We offer business banking solutions including current accounts, savings accounts, a range of payment products and loans. Our customers have access to secure online banking and a UK-based call centre, and if you call us, you’ll always speak to a person, not an automated message. In fact 90% of our customer calls are resolved there and then, by the first person you speak to.
We also have a team of Relationship Managers who have specialist knowledge of various sectors and can work with you to deliver solutions tailored to your needs.
With a commitment to safe and sustainable growth, Unity shareholders and employees have built a robust organisation, making it one of the leading socially motivated business banks.
We align our lending practices to the United Nations’ Sustainable Development Goals (SDGs) – a global framework for achieving a better future for everyone.
We’re proud to support like-minded organisations that share our vision of creating a better society.
You can find out more about these SDGs and how they shape the support we offer on page 16.
All statistics and figures in this brochure can be found in the Unity Trust Bank Impact report 2022 and the Annual Reports and Accounts 2022 available on our website.
We support organisations that provide access to all levels of education and vocational training; from quality early childhood developmental care through to affordable technical, vocational, and tertiary education including university.
As a socially-motivated commercial bank, Unity Trust Bank supports like-minded organisations that share our values in wanting to create a better society.
We support businesses and organisations that are committed to addressing positive social, economic or environmental needs throughout the UK.
Unity Trust Bank supports organisations that provide safe, affordable housing in local communities.
Unity Trust Bank is proud to support healthcare organisations, such as pharmacies, dental practices, specialist care providers and care homes.
Unity Trust Bank is committed to helping businesses grow and prosper and enable access to fair and affordable lending through responsible finance providers.
We are proud of our 40-year relationship with Trade Unions. Our joint philosophy of serving the common good is still aligned today.
A number of parish councils choose Unity Trust Bank because they share our vision of improving the lives of local communities.
A savings account with Unity Trust Bank will not only earn interest for your business, but the money you deposit will, in turn, help us to help other organisations make a real difference to society.
Unity Trust Bank only lends to organisations that address social, economic or environmental needs in local communities. So, by saving with us, you can be safe in the knowledge that your deposits will be used to help make a positive difference across the UK.
A Fixed Term Deposit account is for you if you’re happy to leave your money untouched for a fixed period and receive interest at maturity, want to save a lump sum of more than £100k rather than making regular deposits and want certainty of what interest you will earn on your savings.
Two of our Fixed Term Deposit Accounts are highlighted over the next few pages. To find out how our 12-month or 24-month accounts can help you earn interest on your savings, see the table and summary that follows.
It’s good to know that your eligible savings with Unity Trust Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS), the UK’s deposit guarantee scheme.
As an ethical bank, we lend to organisations that deliver positive social impact. So you can be confident that every deposit you make with us will help improve the lives of UK communities.
For example – did you know that 43% of the loans we made in 2022 went to organisations in areas of high deprivation?*
Our lending last year supported 890 bed spaces in care homes and 846 day care spaces across early education and specialist education services. We helped 493 households benefit from affordable homes/care services and supported 476 jobs and 130 community facilities.*
Together, we have a bank to be proud of.
* Unity Trust Bank Impact Report 2022.
| 12-Month Fixed Term Deposit | 24-Month Fixed Term Deposit | |
|
Interest Rate |
5.00% |
5.20% |
|
Term |
12 months |
24 months |
|
Minimum Deposit |
£100k |
£100k |
|
Maximum Deposit |
£5m |
£5m |
|
Access |
No access2 |
No access2 |
|
Fixed or Variable |
Fixed |
Fixed |
|
Fee |
Free |
Free |
1. Please note that the annual interest rates offered for the Fixed Term Deposit accounts are subject to change and may be withdrawn at any time without notice. Terms and conditions apply.
2. 12-Month Fixed Term Deposit and 24-Month Fixed Term Deposit – Client will not be able to access funds early unless we are satisfied that exceptional circumstances exist. Examples are death of a sole trader or member of a partnership, exceptional financial difficulty, or vulnerability. If we grant early termination the interest rate applied for the entire period will switch to the default rate of 2.75%.
3. All Fixed Term Deposits require a Servicing Account held with Unity Trust Bank. On maturity, funds will transfer to a Unity Instant Access account or a Unity Current account. If you do not already hold either a Current Account or Instant Access Savings Account with Unity Trust Bank, you will need to open an Instant Access Savings Account which is free of charge.
4. All account opening requests are subject to eligibility criteria.
5. We do not provide financial advice to our customers and you are not entitled to rely on us for advice or recommendations.
6. You can access our UK-based customer service centre.
What is the Interest Rate? (Effective July 2023)
| Minimum Deposit | Gross Rate* | AER** |
|
£100k+ |
5.20% |
5.20% |
What is the Interest Rate? (Effective July 2023)
| Minimum Deposit | Gross Rate* | AER** |
|
£100k+ |
5.00% |
5.00% |
* Gross Rate is the contractual rate of interest payable before the deduction of income tax at the ratespecified by law.
** AER stands for Annual Equivalent Rate and illustrates the interest rate if interest was paid and compounded each year.
Interest is credited at the end of the fixed term.
|
Can Unity Trust Bank change the interest rate? |
The interest rate is fixed for the term. |
|
What would be the estimated balance after 12/24 months based on a £100,000 deposit? |
A deposit of £100,000 at an annual Gross Rate of 5.00% (fixed) would generate an estimated balance of £105,000 after one year. A deposit of £100,000 at an annual Gross Rate of 5.20% (fixed) would generate an estimated balance of £110,400 after two years. This is for illustrative purposes only. |
|
How do I open and manage the account? |
To open an account you’ll need to complete and sign the application form from www.unity.co.uk/business-banking/savings-account-2/. The letter will need to be printed and signed by all signatories in accordance with your bank mandate and sent to Customers Account Team, PO Box 7193, Planetary Road, Willenhall, WV1 9DG or emailed to us@unity.co.uk All Fixed Term Deposits require a Servicing Account. If you do not already hold either a Current Account or Instant Access Savings Account with Unity we wil open an Instant Access Savings Account for you. This account is not designed for transactional banking, it cannot be used to make payments. At the end of the term, available funds will automatically transfer to your Unity servicing account. You can then transfer the funds to a different account. |
|
Can I withdraw my money? |
|
|
Additional Information |
|
In 2022 we increased our lending to £836.6m (2021: £723.5m); our deposits to £1,539m (2021: £1,507m); annual after-tax earnings to £22.8m (2021: £9.7m); and return on shareholders’ equity to 19.6% (2021: 9.7%).
At the end of 2022 Unity’s capital base was strong by the Bank of England’s CET1 measure at a healthy 18.3%.
The Liquidity Coverage Ratio, which measures a Bank’s ability to meet short term obligations, remained strong at the end of 2022 at 220%.
Year to date, our profits have continued to grow, and we have a Net Stable Funding Ratio (NSFR) of 154%.
Bed spaces created and renovated
Day care spaces
People supported with housing and care
Jobs created and protected
Community facilities maintained or created
Placements into apprenticeships, training and internships
£224.4m of lending committed to 154 customers that are organisations across the UK contributing to the United Nations’ Sustainable Development Goals (SDGs).
87% of our customers said they were satisfied or extremely satisfied with our services.
We were proud to be the newest UK member to join the Global Alliance for Banking on Values, a community of likeminded financial institutions committed to creating impact.
Over 1,000 new organisations opened a bank account with us with over 30% of new accounts supporting people in high deprivation areas.*
By the end of 2022, we’d actively worked with over 9,000 socially minded organisations working together to create a better society:
808 total loans committed at end of 2022
£846.7m value of loans committed at end of 2022
£1.5bn total value in deposits for socially minded organisations at end of 2022
9,118 total number of organisations with accounts* at end of 2022
* As assessed by organisational postcode being set within deciles 1 to 4 according to the English & Welsh Index of Multiple Deprivation or Scottish Index of Multiple Deprivation.
Your deposits enable us to provide loans to socially minded organsations across the UK
100% of our lending supports those improving the lives of local
communities
43% Goes to organisations that are based in deprived areas
across the UK
57% Goes to organisations that make positive change and deliver impact
Investors in People is a standard for people management, off ering accreditation to organisations that adhere to the Investors in People Standard.
Disability Confident is creating a movement of change, encouraging employers to think differently about disability and take action to improve how they recruit, retain and develop disabled people.
The Fair Tax Foundation, a not-for-profit social enterprise. The Fair Tax Mark accreditation scheme seeks to encourage and recognise businesses that pay the right amount of corporation tax at the right.
A Carbon Literate Organisation (CLO) is an organisation that has been accredited by The Carbon Literacy Project as having a substantial commitment to Carbon Literacy.
The National Association of Commercial Finance Brokers (NACFB) is the UK’s largest independent trade body for commercial finance brokers.
In order to become an accredited Living Wage Employer, you need to pay all of your directly employed staff a Living Wage, and have a plan in place to extend that to regular sub-contracted staff as well.
A standard for demonstrating low carbon credentials: Unifi ed and independent method to manage carbon and energy, recognises all stages of carbon management – from assessment, to carbon reductions and Disability Confident is creating a movement carbon neutrality.
Becoming an FSCB member is entirely voluntary and to join is to make a statement that your firm recognises the importance of good organisational culture.
Working with members to continually improve responsible business practices. Leveraging their collective impact for the benefit of communities.
Time to Change Employer Pledge demonstrates commitment to changing the way we all think and act about mental health in the workplace.
The Women in Finance Charter is a commitment by HM Treasury and signatory firms to work together to build a more balanced and fair industry.
