£1.7m cash boost for good causes

The foundation receives a share of Northern Rock's profits

A fund for debtors with high-interest lenders is to share a £1.7m windfall from a building society-turned bank.

The Northern Rock Foundation is handing out grants to six good causes in County Durham and the Tees Valley.

These include the loan fund, a project supporting homeless people and the restoration of a historic park.

The foundation was established in 1997 when Northern Rock plc converted from a mutual organisation, and receives 5% of its annual pre-tax profits.

The Five Lamps Organisation, which provides a loan fund to help people in debt on Teesside, will receive £137,800.

"Creativity and enthusiasm"

There will be cash for the restoration of Hardwick Park in County Durham, and for the refurbishment of the Georgian Theatre in Stockton.

Hartlepool Citizens Advice Bureau and the Single Homeless Action Initiative in Derwentside will both be given grants to aid homeless people, and there will be cash for a scheme supporting people in Stockton with mental health problems.

Alastair Balls, the foundation chairman, said: "The Trustees are delighted to announce these first grants for work under our new programmes and priorities.

"They continue to demonstrate the creativity, enthusiasm and hard work of voluntary organisations and their partners in improving the lives of disadvantaged people in our region and making it a better place for everyone to enjoy."