Member Article

Branson pledges commitment to Northern Rock Foundation until 2013

Sir Richard Branson has pledged his support to the Northern Rock Foundation, in the wake of Virgin Money’s takeover over the troubled Northern Rock Bank.

Over the past 13 years the Foundation has given over 3,700 grants and supported nearly 2000 different organisations,putting it amongst the top 50 trust and foundation grant-makers across the UK.

However, the Foundations long-term future is now under review after the bank’s takeover by Virgin Money.

In a meeting at Northern Rock House, Newcastle North MP Catherine McKinnell took the opportunity to question Branson about the future of Virgin Money and the Northern Rock Foundation.

Commenting on the meeting, she said: “I was delighted to have the chance to meet with and talk to Sir Richard Branson today.

“He and his team are clearly committed to expanding Northern Rock’s customer base and to make Virgin Money a successful high street bank, providing what I hope will be even more jobs at its Gosforth headquarters.

“However, I also wanted reassurances about Virgin’s commitment to continued support for the brilliant work of the Northern Rock Foundation and I took the opportunity to press Sir Richard directly on this issue.”

While Virgin Money have pledged its support to the Foundation until 2013, it is unclear what will happen after this point.

Catherine continued: “The Foundation is exemplary in its work supporting the local community, and I wanted to ensure that Sir Richard fully appreciated its importance to the region and I look forward to hearing how Virgin Money will be supporting its work in future.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .