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Bank Match Funding?

lindos90
lindos90 Posts: 3,208 Forumite
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I help out with our schools PTA and have been told that some banks and building societies do something called 'match funding'.

This is how i think it works..A member of their staff volunteers to help out at a school fund raising event (they usually have to be related to a child at that school). The bank may then 'match' the amount raised at the event. This can therefore double the efforts of the PTA.

I would like to try and do this for our school, but Im not sure which Banks offer this service, has anyone had experience of this?

Im hoping to put a poster up at school asking if children have a family member who works for any of the banks that do matchfunding and that it could really help the school raise extra funds.

Hope someone can help!:)

Comments

  • LEJC
    LEJC Posts: 9,618 Forumite
    I have heard of the scheme too ...I used to work for a high street bank that did this although its not quite so simple as you suggest...I tried to raise some money for our local scout group but was told that any matched money would be sent to "the scouting organisation" in general for distribution rather than to a specific local group...which kind of defeated the object in my mind a little...
    frugal October...£41.82 of £40 food shopping spend for the 2 of us!

    2017 toiletries challenge 179 out 145 in ...£18.64 spend
  • LEJC
    LEJC Posts: 9,618 Forumite
    Just had an ask round of some old friends and they too believe that there is still such a scheme...however its not well published....

    You could phone a couple of your local bank branches to enquire if they know any details...buty it may be more worthwhile asking for a telephone number for your local area office who will most certainly have more details if they operate the scheme...again although my friends were aware of the scheme no one who I have spoken to knew anyone who had actually received anything back by way of matched giving...there seemed to be some debate over who can apply and there is almost certainly a cap on the annual amount you can claim per person...
    frugal October...£41.82 of £40 food shopping spend for the 2 of us!

    2017 toiletries challenge 179 out 145 in ...£18.64 spend
  • lindos90
    lindos90 Posts: 3,208 Forumite
    Name Dropper First Anniversary Combo Breaker First Post
    Thanks for the replies. yep, im sure each bank doing this will have theri own conditions, maybe the school has to be a registered charity, or the matchfunding is just for the stall rather than the whole event, one application per person, per year etc. Guess we really wouldnt mind as long as it helped a little.

    Its very difficult to get parents involved anyway, so I still think oit would be useful for me to find which banks did it first, before asking around,

    Looks like this is not well publicised then, might have to contact banks individually!
  • Savvy_Sue
    Savvy_Sue Posts: 46,017 Forumite
    Name Dropper First Post First Anniversary
    It could be worth going into a few local bank branches and asking them. The scheme isn't limited to PTAs: I work for a charity and we've had a few 'matched funding' donations over the years when bank staff have taken part in fundraising for us. I think Barclays is one, but couldn't swear to it.

    Also I don't think it's just banks who do this: it could be worth suggesting that parents ask the employers (especially larger private sector companies) if they do this, or whether they support schools in any particular way.
    Signature removed for peace of mind
  • SueMaggie
    SueMaggie Posts: 2,006 Forumite
    I used to work for a major insurance company which also did this, so worth seeing if any others do it too.

    You may find, however, that with the economic climate the way it is at present, firms which used to match their staff's fundraising may no longer do so.
  • rb10
    rb10 Posts: 6,334 Forumite
    Halifax and Lloyds TSB staff are both able to claim under the LTSB scheme - http://www.ltsbmgs.org/

    £1000 per year is fantastic - it used to be £250 for Lloyds TSB and £750 for Halifax so it's great that they've put it up for both banks.
  • lindos90
    lindos90 Posts: 3,208 Forumite
    Name Dropper First Anniversary Combo Breaker First Post
    Thanks everyone! I will try and get a spot in the next newsletter for parents. I will name Barclays. LLoyds and Halifax, also going in to each bank in case we have no parents at the bank, but could get a member of staff to help!

    Thanks all, its well worth trying to increase our fundraising, and this sounds like it may be worth a try!:money:
  • Make sure you verify from the bank exactly what the terms and conditions are for any fundraising schemes as it can change. The schemes are aimmed a bank employees fundraising for their favourite charities.

    Here are some links

    https://barclays.givingforce.com/view_content.phtml?id=6

    http://www.lloydstsbfoundations.org.uk/FundingProgrammes/Pages/Matchedgivingscheme.aspx

    http://bankofscotlandfoundation.org/matched-giving
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