Yorkshire Building Society has launched a fixed rate bond in support of the End Youth Homelessness (EYH) Covid-19 appeal.
The one-year End Youth Homelessness Fixed Rate Bond will see savers receive a 0.70% gross p.a/AER interest rate, fixed until 30 June 2021. Yorkshire Building Society will make a one-off donation to the EYH Covid-19 Appeal of 0.10% of all balances held in the bonds after the account has been withdrawn from sale.
The Society has been working in partnership with EYH since 2017, and to date the partnership has helped over 431 young people and 92 dependent children into their own rented homes and has raised over £1million.
Yorkshire Building Society’s Chief Executive, Mike Regnier, said:
“The impact that coronavirus is having across the country including the charity sector is unparalleled. This new account is a great way for the Society and our members to support the charity through this pandemic.”
Nicholas Connolly, Managing Director for End Youth Homelessness, said:
“This global pandemic hitting the UK means EYH charities now face extraordinary costs just to keep services staffed and young people healthy. We are desperately concerned that the Covid-19 crisis will prevent our services from running and leave young people unsupported, without food or worse. Meanwhile, our charities expect a significant drop in voluntary income this year.
“That’s why the launch of the End Youth Homelessness Fixed Rate Bond is so important for homeless young people: it will raise vital funds to give even more young people a chance to escape homelessness and secure a safe place to call home.”