Legion news & events in Norfolk
Wymondham Branch Poppy Appeal Concert
Standard Bearer Training Dates 2019
Please note Standard Bearer attendance at events must be agreed by your Branch Committee and minuted for insurance purposes
https://www.veteransgateway.org.uk/
Branch Fund Initiative (BFI)
|
Funds held
|
Interest earned Standard Rate 0.05%
|
Interest earned BFI Rate 2%
|
|
£5,000
|
£2.50
|
£100.00
|
|
£10,000
|
£5.00
|
£200.00
|
|
£20,000
|
£10.00
|
£400.00
|
|
£30,000
|
£15.00
|
£600.00
|
|
£40,000
|
£20.00
|
£800.00
|
John Graham, former Finance Director, at RBL Head Office wrote to all Branch Chairmen in November 2014 with branch accounts holding in excess of £5,000 of cash and COIF investments. The letter outlined the new policy that has the full backing of The Board of Trustees, the Membership Council and the County Chairmen.
Branches may retain a maximum of £5,000 in their current account and anything above that (or anything that is not immediately needed) should be deposited in BFI. The BFI is a savings scheme administered from Head Office. Excess branch funds can be deposited and instantly benefit from higher interest rates with quick and easy access. See how much your branch account will make on interest from the table above.
