As part of the partnership, Leeds Building Society – which raised over £16,700 at its AGM for charity – will offer £72,000 of funding to Become so care leavers can “gain access to vital advice about living independently”.
The relationship with Become has led the mutual to develop a “programme tailored to the specific needs of care-experienced young people”.
The donation will fund education on financial resilience for young care leavers, which includes sessions on living independently, managing their own rented accommodation and financial advice to put them in a better position to get onto the property ladder.
Recent government data has shown that the number of care leavers aged 18 to 20 facing homelessness has risen by a third in the last four years, but through partnerships like this, care leavers can be “settled into stable and permanent accommodation”, the mutual says.
In the first phase of the partnership, Become will receive funds and support to create the educational resources catered to the needs of care-experienced young people, and in the second half of the year, the charity will deliver the training and evaluate the impact it is having.
Wendy Carter, responsible business lead at Leeds Building Society, said: “We are proud to be working with Become as our new financial education partner to create and deliver resources to support care-experienced young people.
“The partnership closely links to our purpose and belief that everyone deserves a place to call home. By working with Become, we hope to support care leavers who may experience additional barriers to stable accommodation.”
She continued: “We are thrilled to be able to work in partnership with Become to develop a financial education programme to empower vulnerable young people who face financial independence at an early age, to make informed choices that bring them closer to securing a place of their own.”
Chloe Grant, director of services at Become, added: “Every year, we see over 11,000 young people leaving the care system in the UK. From the day they turn 18, they are expected to become independent overnight, so it is no surprise that young people leaving care are at higher risk of poverty, mental ill health, and homelessness.
“The generous £72,000 worth of funding from Leeds Building Society will allow us to create and deliver resources that will help care-experienced young people feel supported as they navigate managing their own home.”
She added: “As the UK’s national charity for children in care and care leavers, we are passionate about supporting care-experienced young people to thrive.
“With 25 per cent of all homeless people estimated to have been in the care system during childhood, we know the importance of helping care leavers to better understand their rights and entitlements, so that they are supported into adulthood in secure, stable accommodation.”
