Unity Trust Bank savings rates — compare every account, plus switch offers and guides

Who they are

Unity Trust Bank was established in 1984 as a joint venture between major UK trade unions and the Co-operative Bank. Originally a licensed deposit-taking institution, it acquired full bank status in 1987. It became a fully independent bank in 2015 , when it bought back shares held by the Co-operative Bank and reshaped its ownership structure.

Unity Trust Bank provides specialist business banking services to trade unions, charities and other organisations that operate in the not-for-profit sector in the UK - and since 2015 its remit has grown to include profit-with-purpose businesses. Its head office is at Four Brindleyplace, Birmingham. The bank is known for its ethical stance: it was the first bank to be Living Wage accredited, and the first to receive a Fair Tax Mark.

Savings accounts

Unity Trust Bank's focus is firmly on business and organisational banking rather than personal savings. It is a specialist bank for organisations in the social economy, providing day-to-day banking and finance to charities, social enterprises, co-operatives, CICs, community groups, local councils, trade unions and more. The bank is funded entirely by customer deposits, which are then used to support the communities it serves by backing projects and companies with real social impact.

At the moment, DepositScout does not list any retail savings products from Unity Trust Bank. If that changes, rates will appear live on this page - check back for the most current figures.

Regulation and FSCS protection

Unity Trust Bank plc is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the PRA. It holds its own independent banking licence under the name Unity Trust Bank plc, so your deposits are not pooled with any other brand for protection purposes. Eligible savings with Unity Trust Bank may be protected up to a total of £120,000 by the FSCS, the UK's deposit guarantee scheme. That limit rose from £85,000 on 1 December 2025.

Is it right for you?

Unity Trust Bank is a niche institution with a clear sense of purpose - if your organisation operates in the social economy and wants its money working in line with those values, it is worth a serious look. Personal savers and mainstream businesses are unlikely to be its target audience. As always, compare the live rates shown on this page before making any decision.