Skipton Building Society has launched a new Members' Draw that will hand out £540,000 in cash prizes to eligible members over a 12-month period. The initiative begins on October 1, 2026, and runs until September 1, 2027, with eight winners selected every month.
Each month, £50,000 is shared between eight members chosen at random, including one £25,000 prize, two £10,000 prizes, and five £1,000 prizes. The draw takes place on the first working day of each month, from 1 October 2026 to 1 September 2027.
Eligibility and automatic entry
Members aged 18 or over are eligible, but they must have at least £100 in savings with Skipton, or an outstanding mortgage balance of £100 or more, and be UK residents (excluding Northern Ireland). Eligible members are entered automatically, and the longer someone has been a member, the more chances they have to win.
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."
How winners are notified
Skipton will contact winners within 30 calendar days of the draw, using the contact details it holds—either by phone, email, post, or in person. The society has not specified how many entries each member receives based on tenure, only that longer membership increases the likelihood of winning.
Mortimer 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."
Impact for members
The draw provides a monthly opportunity for eligible savers and borrowers to receive cash prizes without any additional action. With eight winners each month over the 12-month period, a total of 96 members will receive prizes, ranging from £1,000 to £25,000.
The first draw is scheduled for 1 October 2026, and the final draw will take place on 1 September 2027, marking the end of the £540,000 prize fund distribution.
