Dormant bank account cash reinvested in local projects to help young people
Ten projects working with young people in Scotland have been awarded half a million pounds from dormant bank and building society accounts.
The money has been made available by the Big Lottery Fund’s Young Start awards to help a range of projects working with young people from age eight to 24.
Big Lottery Fund is allocated the money to distribute, under the Dormant Bank and Building Society Accounts Act 2008, from accounts which haven’t seen any customer activity for at least 15 years.
Awards ranged from just over £44,000 to £50,000 with £488,838 given out in total.
The Scottish Christian Alliance received £44,100 for their Sew Funky Project which will develop a new social enterprise in Glenrothes.
All of the latest awards share a common aim - giving young people the chance to develop skills for a better future
The initiative will benefit up to 100 young people between the ages of 16 and 25 who are experiencing a range of personal challenges. The young people will learn new work experience skills by creating and selling products from garden furniture to wedding merchandise.
Social enterprise co-ordinator, Aileen Gallagher, said: “The young people are delighted about the latest news. This means that young people of the Fife area can now be provided with the opportunities to embark on positive destinations.”
Amy Sarrell (17) who will benefit from the project said: “This is amazing as I really enjoy taking part in the Sew Funky Project and now I have the opportunity to learn new business skills”.
Chair of Big Lottery Fund Scotland, Maureen McGinn, said: “As we move into another year, Young Start continues to give young people opportunities to develop their potential through a range of different projects.
“All of the latest awards share a common aim - giving young people the chance to develop skills for a better future.”
