Since 1998, every new customer opening an account that provides membership of the Coventry must agree to assign any windfall conversion benefits to which they may become entitled, to the Coventry Building Society Charitable Foundation for a period of five years from the date they become a member.
We introduced this to avoid disruption to our normal business caused by the actions of speculators whose main objective in opening accounts is to receive windfall conversion payments.
The Coventry Building Society Charitable Foundation, established in 1998, is a registered charity, and the majority of its trustees are independent of Coventry Building Society. It provides financial assistance in the form of grants to registered charities operating in the area served by our branch network.
Read more about our Charitable Assignment Scheme.