Skipton Building Society is introducing a Members' Draw that will hand out £540,000 in prizes over 12 months, with eligible savings and mortgage customers automatically entered. The first draw will take place from October 1, 2026, with eight cash prizes available each month, including a top prize of £25,000.
People do not need thousands of pounds tucked away to qualify. Savers need to have at least £100 in an eligible Skipton savings account, while mortgage customers can also be entered provided they have at least £100 outstanding on their mortgage.
Cash prizes available every month
A total of £45,000 will be handed out during each monthly draw. The eight prizes are: one £25,000 cash prize, two £10,000 cash prizes, and five £1,000 cash prizes. The Members' Draw is due to run from October 1, 2026 until September 1, 2027, with £540,000 being given away over the 12-month period.
Who can enter the new £25,000 prize draw?
There is no application process for eligible Skipton members as qualifying customers will be automatically entered into the monthly draw. To be eligible, someone must be aged 18 or over and resident in Great Britain. They must also hold either a Skipton savings account containing at least £100 or have a Skipton mortgage with at least £100 outstanding. Eligibility will be assessed ahead of each monthly draw, meaning customers will need to continue meeting the requirements to be included. Members who do not want to participate will be able to opt out.
Long-standing customers get more chances to win
Skipton will also reward customers based on how long they have continuously been members of the building society. Eligible members will receive between one and five entries into each monthly draw, with additional entries awarded to those who have been members for longer. This means a long-standing Skipton customer could have up to five chances of winning during a monthly draw. Skipton has not detailed the individual membership periods required for each number of entries in its announcement.
Nick Mortimer, Chief Marketing Officer at Skipton Building Society, said: "As a mutual, our members are at the heart of everything we do, so we're always looking for meaningful ways to recognise and reward the people who choose to save and borrow with us." He added: "Whether someone has recently joined Skipton or has been with us for many years, the Members' Draw is another way we're rewarding our savings and mortgage members while helping them build brighter financial futures. We're particularly pleased that long-standing members will benefit from additional entries, recognising the loyalty they've shown to us over time."
The Members' Draw launches on October 1 and will run for 12 months until September 1, 2027. Skipton said eligibility will be checked before each monthly draw and qualifying members will be entered automatically unless they choose to opt out. Full terms and conditions will be available from Skipton Building Society.
