Do Teachers Building Society offer competitive products? Teachers Building SocietyTeachers Building Society was formed in 1966 to provide savings and house purchase facilities to the education sector. Since that time the Society has gained an enviable reputation for understanding and handling the financial requirements of teachers. Located at Wimborne Minster in Dorset since 1976, their attractive postal-based products, which are now available to the general public and not just teachers, have contributed to the Society's growth over the years. The Society is committed to mutuality and the benefits that this brings to members. They intend to continue as an independent mutual building society providing accounts to all genuine saving members. They have, however, had to restrict or delay account opening at times when certain people have taken action to open accounts in the hope of receiving windfall benefits on a conversion. To avoid continued disruption from speculators, the Society requires new investors to agree to assign to charity any windfall benefit to which they might become entitled in the unlikely event of a conversion being announced during the period (usually five years) after opening the account. Existing shareholding members as at 31st March, 2000 who have continuously held a share account will not be required to assign any benefits to charity upon opening a new account. The Society has chosen the well-known Charities Aid Foundation as the charity to benefit from potential windfalls. There are certain categories of investors who will be exempt from assigning any future windfall rights. A list of these categories is available from the Society. | 
