Principality members raise thousands for charity

Wales' largest building society, Principality, raised £20,000 for its joint charities of the year, Ty Hafan and Ty Gobaith, with the support of its members.

The building societies fundraising got off to a good start at this year's 149th Annual General Meeting where Principality members once again showed their overwhelming support for the mutual.

Over 42,000 members cast their vote by post or online, an increase of 10,000 on last year. For every vote received, the Society made a donation to Ty Hafan and Ty Gobaith, totalling £20,000.

Principality Chairman, David Williams, said: "In this testing climate we are writing the current chapter in the Principality story - a story that is approaching its 150th year. It is encouraging for both myself and the rest of the Board to witness our members continued support.

"Our key priority has and continues to be to keep our members' money safe and we have achieved this. We turned in a solid profit performance for 2008. We have one of the strongest capital positions in the sector and 95 per cent of loans are now funded by our retail savings balances ensuring high levels of liquidity for the business and enhanced returns for our savers.

"We remain committed to both our members and our communities in Wales and I am delighted that with their support we have been able to raise a significant amount of money to help both charities continue with their much needed work across Wales."

Sarah Kearsley-Whooller, Fundraising Manager at Ty Gobaith, said: "We are delighted that the Principality Building Society have chosen to adopt us, along with Ty Hafan, as their nominated charities for this year.

"It is a tribute to the enthusiasm and commitment of the Principality Building Society that the member vote at the recent AGM was so successful, raising a total of £20,000.

"The current financial climate is taking fundraising to a challenging level and we continue to be grateful to our corporate partners who provide the essential support necessary for Ty Gobaith - the only children's hospice in North Wales - to continue caring for terminally-ill children and their families, facing the most difficult diagnosis. With their generosity we can continue to make the most of short and precious lives."

Frank Ady, Head of Corporate Partnerships at T? Hafan, said: "On behalf of the children, families and staff at T? Hafan, I would like to say a very big thank you to Principality for choosing to support T? Hafan as one of their charities of the year. We look forward to a great partnership that has already proved to be a resounding success.

"Having already raised £20,000 in such a short amount of time, and in the current economic climate, is astonishing.

"This remarkable effort from Principality highlights the effect that corporate support can have on a charity, and for us, support such as this is an integral fundraising element that enables T? Hafan to continue providing the much needed comfort, care and support to life-limited children, young people and their families free of charge."

Both Ty Hafan and Ty Gobaith provide a specialist palliative care service for children who suffer from conditions that mean they won't reach adulthood. By offering comfort and support to the whole family the charities aim to improve the quality of life for these children across Wales.