The Cambridge Building Society has committed £22,500 over three years to support a new fund for care leavers across Cambridgeshire.
The mutual has partnered with Concrete Rose to help launch a “bank of mum and dad” initiative, designed to provide flexible financial support to young people at critical points in their lives.
The funding is being provided through The Cambridge’s Community Fund and will support care leavers who are working with Concrete Rose through its mentoring, supported lodgings programmes and Care Leavers’ Hub.
The initiative will allow young people to request targeted support at what the charity describes as “fork in the road” moments, where relatively small sums can help prevent a setback or enable an opportunity.
Katie Robinson, community engagement specialist at The Cambridge, said: “What’s so powerful about this initiative is the difference it can make at exactly the right moment. Having access to an alternative “bank of mum and dad” often means the difference between being able to take an opportunity or having to turn it down – whether that’s starting a job, continuing education, or simply getting through a difficult period.
“For young people without family support, those moments can become real barriers. This fund is about removing those barriers, providing timely, practical help that allows them to keep moving forward. We know a little financial help can sometimes go a long way.”
“Our Community Fund is there to support people who need a helping hand through the giving of grants. We hope this will have a lasting impact – not just in meeting immediate needs, but in helping young people build confidence, independence and a more secure future.”
For many young people, financial support from family can help with the transition into education, employment or stable housing. Care leavers often do not have access to that support, meaning costs such as travel to an interview, course fees or essentials can become barriers.
Mike Farrington, founder and operations lead at Concrete Rose, said: “We’ve set up a “bank of mum and dad” because that’s exactly what’s missing for the young people we work with. Sometimes it’s not about large amounts of money – it’s about having access to a bit of extra support at the right time. That might be help getting to an interview, paying for a course, or covering essentials when things get tight.”
“This partnership with The Cambridge has enabled us to create something sustainable. It means we can be there for young people not just once, but consistently – offering that safety net whenever it’s needed. Long-term support like this allows us to build real relationships with young people and give them the stability they need to make progress and thrive.”
Alongside the multi-year pledge to Concrete Rose, The Cambridge has awarded £10,000 to Jimmy’s Cambridge, £10,000 to Reach Haverhill and £3,674 to Cambridge Re-Use.
Applications for the next round of the Community Fund open on Saturday, 1 August.
The Cambridge has seeded the “bank of mum and dad” fund. Other organisations or individuals interested in contributing can contact Concrete Rose at info@concreterose.co.uk.
Pictured: Concrete Rose beneficiary, Luna
