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Virgin Money statement on the Northern Rock Foundation's decision to close


Having supported the Northern Rock Foundation with £1.5 million of donations over the last two years, Virgin Money tried hard to find a way to continue working with the Foundation on programmes that would deliver significant benefit to the North East and Cumbria regions.

We were surprised and disappointed that the Foundation did not want to pursue any of the proposals, including the creation of a Housing Regeneration and Social Enterprise fund, which would have involved substantial investment from Virgin Money.

This was the Foundation's decision, not Virgin Money's. We are committed to continue to support the North East community strongly in a variety of ways. We already work with over 150 charities in the North East through Virgin Money Giving, and have helped North East fundraisers to raise over £10 million since 2009.

We will continue to focus on building a strong and resilient business in a responsible way, which includes the provision of meaningful and sustainable support to the communities we serve. The North East is central to our future growth plans, and we remain committed to investing further in the region.