VMBS provides Members with More Savings Options

• Society re-launches its Money Maker Account

Monday, May 5, 2008

The Victoria Mutual Building Society (VMBS) has re-launched its long-term savings account, the VM Money Maker to provide its customers and members with a savings option that will allow for immediate benefits, while creating wealth and working towards their long-term goals. Members can open a VM Money Maker Account with a minimum deposit of $25,000 and earn a high interest introductory rate of 13% with TAX FREE benefits after 5 years.

An added attraction to this special account is that the savings earn the most competitive rates according to balances held and savers who so desire, can access up to 75% of their annual interest earned without penalty!

According to Senior Vice-President, Group Marketing & Corporate Affairs, Michelle Wilson-Reynolds, “We are keeping our promise of providing our customers and members with more options for savings to meet their financial needs. We recognize that we have different types of savers, so with the Money Maker Account, we are attracting savers, who are interested in saving for their future goals with optimum benefits and flexibility.”

The VM Money Maker Account therefore combines short, medium and long-term benefits with the 13% introductory rate; the tiered competitive rates for the next 4 ½ years, the access to funds annually and of course the tax-free benefit. After the maturity date, members can choose to withdraw their funds without losing the tax-free status or renew it for an additional 5 years.

Mrs. Wilson-Reynolds concluded, “VMBS is definitely the place to save, as we continue to provide our members with the best in savings and loans. In this our 130th Anniversary year, we renew our commitment to our members to operate as a true mutual entity, so they can look forward to even more innovative products and services from the Society and its subsidiary companies.”

To open a VM Money Maker Account or any other VMBS savings account, such as the recently launched monthly savings, high interest iSave Account , customers may visit any of the 15 branches of The Victoria Mutual Building Society islandwide or VMBS Representative Offices in United Kingdom and Canada.

For more information please visit the VM Money Maker page or contact the VMBS TeleCare Centre.