Virgin Money has announced a new partnership with The Care Workers’ Charity (CWC) through which a share of the arrangement fee from every new care sector loan will be donated directly to CWC’s crisis grants programme.
The programme provides financial support to people employed in the UK social care sector in a role that is involved in or supports the provision of adult, elderly or disability care.
Crisis grants can offer emergency financial assistance to care workers who experience sudden hardships such as illness, bereavement, domestic abuse, or loss of income.
Grant awards are typically limited to a maximum of £500, which does not have to be paid back and is not part of public funding.
To be eligible for a Crisis Grant to support with the cost of living, the applicant must:
- Be currently employed in the UK social care sector, in a role that is involved in or supports the provision of adult, elderly or disability care.
- Must currently be employed for at least 3 months in the care sector
- Have experienced one of the following changes in circumstances, within the last year:
A sudden of unexpected loss of income· A sudden or unexpected illness or injury· A sudden or unexpected change in living circumstances or loss of home· A relationship breakdown· An issue of domestic abuse· Death of a close relative.
Virgin Money aims to support at least 200 care workers each year through this initiative, easing the financial pressures faced by those on the front lines of care.
At the time of writing the crisis grants fund is closed to new applications ‘due to the volume of applications’ and will reopen on Monday 7th July..
Derek Breingan, Director Health and Social Care at Virgin Money, said: ‘Care workers are the backbone of our communities, providing essential support to some of the most vulnerable people in society. At Virgin Money, we believe in building a better future for people and communities, and that means standing with those who dedicate their lives to caring for others.
‘Our partnership with The Care Workers’ Charity reflects this purpose in action, ensuring that care workers have access to vital support when they need it most. We’re proud to play a part in strengthening the safety net for this incredible workforce.’
Karolina Gerlich, CEO of The Care Workers’ Charity, added: ‘This innovative partnership with Virgin Money marks a significant step forward in how businesses can support the social care sector. By linking financial services with direct support for care workers, Virgin Money is setting a powerful example of how cross-sector collaboration can create meaningful change.
‘We are so grateful for their commitment to the care workforce — their support will provide a vital safety net for those facing crisis. We hope this partnership inspires others to stand with the care workers who give so much to society every day.’
The new partnership is now live, with donations being made for every new care sector loan arranged. Virgin Money encourages other organisations in this sector to explore how they too can support the wellbeing of care workers.
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