Savers and homeowners members of Newcastle Building Society are being offered free advice if they face financial hardship amid the rising cost of living.
The society has team up with Citizens Advice Gateshead to launch a telephone hotline and email service called Helping Hand. Newcastle Building Society has pledged to invest £130,000 into the charity to fund the service designed to identify members' issues and provide advice around further benefits or sources of income available to them.
Workers at the mutual, which is the largest in the North East, can also access the service, which will provide a full time welfare advice expert. The move follows Newcastle Building Society's introduction of an early pay increase in October for all colleagues below executive level, with a further pay review expected in March.
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Andrew Haigh, chief executive at Newcastle Building Society, said: "The cost of living crisis, a combination of high inflation impacting food and fuel, together with the effect of a rising bank base rate, are creating pressures from multiple directions, causing a whole new group of people to face financial challenges at a scale they may not have encountered before.
"As a member-owned organisation we’re committed to doing what we can to support customers who are experiencing real difficulties in the face of rising costs of living. We know many people are faced with making some really hard choices and are going without even the basics in an attempt to stay financially afloat. Others may already be experiencing the vicious cycle of debt, some for the first time."
Alison Dunn, chief executive of Citizens Advice Gateshead said: "The cost of living crisis is having a real and devastating impact on the lives of people across the region; people who are already living with some of the highest poverty and lowest economic growth figures in the country.
"As winter draws in, more and more families – some who would never have imagined they would be in this position last year – are facing unimaginable choices around food, heat, clothing and looking after their children.
"Now, more than ever, they need independent advice and information and we’re proud to be working alongside Newcastle Building Society to make ensure their members and colleagues are supported during these difficult times."
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