Vernon Building Society

Who they are

Founded in 1924 in Stockport, Cheshire, Vernon is an independent, mutual building society - and it has real staying power. At the time there were 12 building societies in Stockport, but as of 1983 the Vernon is the only one to have withstood the challenges of the last century. As a mutually owned business, it is not answerable to shareholders and all profits are used for the benefit of members, the communities it serves, and to support the society's future growth. It has built a strong reputation as a trusted provider of financial products to the local population with branches in Stockport, Edgeley, Marple, Bramhall, Hazel Grove, Poynton and Reddish.

Vernon is authorised by the FCA (firm reference 195475) and your savings are protected by the FSCS up to £120,000 per person. Vernon operates under its own banking licence with no shared-licence brands, so your full £120,000 allowance sits with Vernon alone.

Savings accounts

Vernon's range is wider than you might expect from a local society. The standout for regular savers is the Online Regular Saver, currently paying 5.75% variable - one of the more competitive rates in this category. If you can lock money away, the Fixed-Rate Bonds and Fixed-Rate ISAs go up to 4.40% fixed, with a £5,000 minimum. A Monthly Income variant of each is also available from £20,000 if you prefer interest paid out regularly rather than rolled up. For flexibility, the 90-Day Cash ISA pays 3.35% variable (minimum £1,000), the 30-Day Notice Cash ISA pays 2.85%, and the Easy Access Cash ISA pays 2.35% from just £100.

For families, the Junior Cash ISA pays 3.75% variable with a £1 minimum - a solid rate for a tax-free children's pot that locks away until the child turns 18. There is also a Young Saver account at 3.00% with instant access, again from £1. The plain Easy Access account pays 1.90% and is worth checking if you simply want somewhere to park cash with no notice period.

All accounts carry full FSCS deposit protection up to £120,000.

Is it right for you?

Vernon suits savers who want a genuine mutual - community-rooted, branch-accessible, and without the noise of a big bank - but who also want a credible range of ISAs and fixed bonds. The regular saver and fixed-rate products are where the rates stand out most. If you want purely online account opening without any branch involvement, it is worth checking the application process for each product before you apply, as some accounts may require an in-branch or postal start.

There is no current account or switch offer here, so this is a savings-focused relationship rather than an everyday banking one.

Rates move over time, so always check the live figures shown on this page before making a decision.