Co-op funds youth hostel expansion
The Co-operative Bank has agreed a £13m funding package with Matlock-headquartered national accommodation provider YHA (the Youth Hostels Association) in England and Wales.
The bank's specialist charity team has agreed to the funding which will be used to refurbish YHA’s 200 youth hostels, bunk houses and camping barns, and to refinance a debt facility.
Barbara Hodgson, regional manager of the Co-operative Bank's charity and social enterprise team (North and Midlands), said: "The Youth Hostel Association is an organisation with a proven track record in providing quality accommodation to its customers.
"Despite the challenging economic outlook, this shows how the bank continues to support charitable organisations and offer a full range of services to its clients."
Caroline White, chief executive at YHA, added: "Our vision is to reach out and enhance the lives of young people. We want to double the number of young people who experience YHA and the support of the Co-operative Bank will be essential in achieving that goal."
