UK: Save to help the homeless

A new savings account has been launched by the Loughborough Building Society that will see the institution donate 1% of the average balance in the account over the course of a year to a homelessness charity in Derby.

The account is an instant access passbook account which costs £10 to open. Customers will also receive an interest rate of 0.5%.

The building society will need at least 25 people to sign up for the account before it can start the donation scheme, with the funds to be donated to the Padley Group. The building society is also selling £1 food vouchers to customers that can be given to homeless people to be exchanged for food at the Padley Centre.

"Homelessness is just a massive issue in Derby. Everyone who loves the city can see there is a major issue... You can see a lot of people are suffering and so we want to make a difference.
Greg Lay, Assistant Manager, Loughborough Building Society"

About the new initiative, Greg Lay, Assistant Manager at Loughborough Building Society, said “Homelessness is just a massive issue in Derby. Everyone who loves the city can see there is a major issue. You do see a lot of homeless people. We have some people sleeping in our doorway. You can see a lot of people are suffering and so we want to make a difference.”

 

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