A fundraising scheme allowing Leeds Building Society members to donate part of their interest payments to charity has raised almost £1m for good causes in its first decade of operation.

Leeds Building Society launched the initiative in 2012.

The scheme, called ‘Your Interest in Theirs’ allows customers to donate the pence amount of interest they earn on their savings to charity.

For example, if the customer earned £12.67 interest amount in a year, 67p will be donated to the charity scheme and the customer keeps the remaining £12.

Richard Fearon the CEO of Leeds Building Society Head office, Leeds. Picture by Simon Hulme

By capping the individual donation at 99p per calendar year, the small individual donations all add up and are given to charity each year.

To date the scheme has raised over £950,000 for good causes.

This year the donations are being split equally between Dementia UK and the Leeds Building Society Foundation.

Dementia UK is the only UK charity caring for people with dementia and their families.

The Leeds Building Society Foundation makes donations to several UK charities, who all work to improve the lives of people in disadvantaged or vulnerable circumstances.

Wendy Carter, Responsible Business Lead at Leeds Building Society, said: “We’re so grateful to our members who support good causes through our Your Interest in Theirs scheme. These pennies of interest all add up, as over the last ten years they’ve raised an amazing £950,000 for our charity partners, including Dementia UK, who use these funds to bring dementia care closer to families who need vital support.”

The ‘Your Interest in Theirs’ scheme is open to all Leeds Building Society savings account members. More details are on the website www.leedsbuildingsociety.co.uk or in branches.

Leeds Building Society charity scheme closes in on £1m fundraising mark