2 May 2023

Principality commits £575,000 in funding to 56 projects across Wales

Principality Building Society has committed its largest ever donation of £575,000 to 56 community groups and charities across Wales as part of  the second phase of its the Future Generations Fund. 

The Principality Building Society’s Future Generations Fund is a Wales wide fund set up in partnership with Community Foundation Wales with the aim of having a positive impact on society and the lives of young people in Wales.

The donations will give young people across Wales access to healthy food, technology and school equipment with the aim of helping them succeed in education.  The fund will also help charities and community groups to help young people with financial education, careers skills, mental health services, and environmental projects.

The funds will be distributed to several successful applicants in South Wales including, a multi-year grant for Bridgend Carers Centre which see them will receive £17,800 over a two year period to support their young carers programme.  

Jessie Haig, Young Carers and Young Adult Carers Service Manager at Bridgend Carers Centre, said: “We’re delighted to have been awarded a grant from The Future Generations Fund by Principality which will allow us to provide activities, support and new opportunities to many young carers in Bridgend. Our under 13 young carers will be offered new and exciting opportunities during the school holidays and half term breaks to give them respite from their caring roles. We have never had long-term funding specifically for the under 13’s activities, therefore this 2 year funding will provide more support than ever to these young carers and their families.”

Tony Smith, Chief Governance Officer at Principality, said: “We were blown away with the calibre of the applications for the second round of the Future Generations Fund. There is amazing work being done every day across the country, by inspirational groups of people, and we’re proud to be able to support these efforts. 

This is the largest sole funding donation made by Principality in our history, and comes after our pledge last year to invest three per cent of our annual profits each year to help vulnerable sections of our communities. We’re proud to be partnering with Community Foundation Wales to strengthen our community programme, reach and impact by using the fund to help those most in need. Given the difficulties of the current financial climate, we feel this is needed now more than ever before.”

Richard Williams, Chief Executive of Community Foundation Wales, said: “We are delighted to be helping even more young people across Wales through our partnership with Principality Building Society. These grants provide much needed support to young people as the cost of living crisis continues to affect Welsh Communities. ”

Published: 02/05/2023