THOUSANDS of pounds has been raised for a local charity through an innovative banking initiative. 

St Mary's Hospice supporters have generated almost £170,000 this year by saving in the charity's account with Furness Building Society. 

The building society makes an annual payment to St Mary's from its own funds - not the savers' money - which is based on the total balances in the accounts; so the more supporters save, the bigger the payment to their charity. 

A giant cheque was handed over at the Coronation Hall in Ulverston during a special event to thank volunteers for their efforts, attended by more than 100 St Mary’s supporters from across South Cumbria.

St Mary’s Head of Income Generation Zoe Guest explained that the money from the Furness makes an important contribution to meeting the £2.2 million which must be raised each year to fund the Hospice in Ulverston.

It has 9 beds and also offers Day Hospice and Hospice at Home services to people with life-threatening conditions, as well as providing support for families, and developing new initiatives such as the Positive Living courses which help people to cope with their illness.

She said: "The principal advantage with the St Mary’s Hospice account offered by the Furness is that it costs supporters nothing, and in fact their money is earning a healthy rate of interest. 

"Simply by saving in the account they are helping to generate a huge regular payment to fund our work.”

Zoe Guest, head of income generation at the hospice, said: “The principal advantage with the St Mary’s Hospice account offered by the Furness is that it costs supporters nothing, and in fact their money is earning a healthy rate of interest. 

"Simply by saving in the account they are helping to generate a huge regular payment to fund our work.”