CWFS will invest your savings in our With-Profits Fund which invests in a range of stocks and shares, government securities (gilts), corporate bonds, property and cash. The aim of investing our members money in this way is to provide a higher return than they could expect to receive from a Building Society savings account, bonuses although not guaranteed once attached cannot be take away.
We provide two important documents to explain how the With-Profits Fund is managed. Please click here to view the CFPPFM.
Customer Friendly Principles & Practices of Financial Management (CFPPFM).
The CFPPFM provides an explanation of the main points about investing in the With-Profits Fund and contains important information about how it works. Please click here to view the CFPPFM.
Principles & Practices of Financial Management (PPFM) for the With-Profits Fund.
This is a more detailed document which sets out the principles and practices of financial management that Communication Workers Friendly Society Limited applies in managing its With-Profits business. It plays an important role in the governance of our With-Profits business.
Compensation
We are covered by the Financial Services Compensation Scheme. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim. Most types of investment business are covered for 100% of the first £30,000 and 90% of the next £20,000, so the maximum compensation is £48,000. (From 1st January 2010 the maximum compensation will be 100% of the first £50,000). Further information about compensation arrangements is available from the Financial Services Compensation Scheme, you can contact them on:
Phone: 020 7892 7300
Fax: 020 7892 7301
Website: http://www.fscs.org.uk/
Or you can write to them at:
Financial Services Compensation Scheme,
7th floor, Lloyds Chambers, Portsoken Street London E1 8BN