Latest News
Earthsaver Bond Issue 3 launched at AGM
Saturday 26th April 2008
The third issue of the Earthsaver Bond was launched at the AGM in London and will again support the Centre for Alternative Technology. The Society has already donated over £15,000 to CAT from previous Bond issues. If you wish to open a Bond by transferring money from an existing Ecology account, please complete the transfer section of a withdrawal form and where applicable, return it with your passbook. The minimum investment is £500 and the maximum £30,000. For further details you can view and/or download a copy of the Earthsaver Bond Issue 3 Brochure (PDF*, 128K) from the Savings literature page.To apply please download a Share Account Application Form (PDF*, 46K) or if you have any queries call our Savings Department on 0845 674 5566
Changes to ISA rules
Tuesday 4th March 2008
From 6 April 2008 the Government is making a series of changes to the way Individual Savings Accounts (ISAs) work. These changes are designed to deliver certainty, simplicity and flexibility for savers.
New structure and limits
The distinction between Maxi and Mini ISAs will be removed; all ISAs will be re-classified as 'cash ISAs' or 'stocks and shares ISAs'. TESSA ISAs will also become cash ISAs. The annual ISA investment allowance will be raised to £7,200, subject to this overall limit, the amounts that can be invested in each type of ISA in a tax year are as follows:
- Stocks and shares ISA - up to £7,200
- Cash ISA - up to £3,600
Example 1
Mr Jones invests £5,000 in a stocks and shares ISA therefore he can invest up to a maximum of £2,200 in a cash ISA in the same tax year.
Example 2
Ms Brown invests £3,600 in a cash ISA therefore she can invest up to a maximum of £3,600 in a stocks and shares ISA in the same tax year.
Please note that the Ecology only offers a cash ISA.
Cash ISA savers will also be able to transfer funds saved in the current tax year to stocks and shares ISAs (but not the other way round).
Investing funds in the new tax year 2008/2009
If, under the new regulations, you wish to invest up to £3,600 in your cash ISA please forward a cheque payable to Ecology Building Society Re: (your name) and write your ten-digit ISA account number on the reverse. If you do not subscribe in the 2007/2008 tax year, but did in any of the previous tax years, under Treasury regulations you must complete a new application form to subscribe in the 2008/2009 tax year. Please download an Earthwise Cash ISA Application Form (PDF*, 49K) or call our Savings Department on 0845 674 5566.