|[20 MAR 98] COVENTRY
BUILDING SOCIETY PRESS RELEASE
Coventry Bulding Society Reduces Minimum Opening Balance Requirements For First Postal
The Coventry, the UK's 7th largest
building society, is reducing the minimum opening balance for the First Postal Account,
one of the market leaders in its field. The interest rates start at 6.85 per cent for
£2,500, rising to 7.20 per cent for balances over £5,000.
As a committed building society, the Coventry is keen to
make its higher rated investment products more accessible to smaller savers. Existing
First Instant customers will also be able to take advantage of the reduction in the
minimum balance and will be written to shortly with full details.
Martin Ritchley, Chief Executive of the Coventry commented:
"This reduction further demonstrates our commitment to
providing a comprehensive range of products for savers, both large and small.
"The Coventry is committed to remaining a building
society because we firmly believe this to be in the best long term interests of our
members. With no dividends to pay to outside shareholders, we are able to deliver tangible
benefits to our members and competitive advantage to the Society. This product is another
example of that."
MORE INFORMATION: Press Office 01203 635653