Atom Bank has partnered with County Durham Community Foundation (the Foundation) to launch a new higher education fund for the North East.

Atom Future Fund aims to encourage and support sixth form students from low-income backgrounds or those who are in the care system to apply to Russell Group universities.

The fund offers a £250 financial incentive to at least 20 eligible Year 13 students in County Durham who decide to apply for any course at a Russell Group University, while it will provide a further £1,000 for applicants who have received and subsequently accepted an offer from their chosen university.

According to figures from Statista, the North East of England has the highest percentage of students eligible for free school meals in the country. The region also has less opportunity for young people to access employment and fulfil their potential.

“We know that poverty steals opportunities and restricts futures," said Michelle Cooper, chief executive, County Durham Community Foundation. "Children and young people living in poverty are much less likely to access opportunities in education, and much less likely to have the means to take advantage of those opportunities should they present themselves."

Atom's director of ESG Edward Twiddy described the bank as one of the largest and fastest growing employers in the North East, adding that it wants to be at the forefront of driving sustainable economic growth in the region.

"Through the Fund and other initiatives, we aim to break down some of the barriers that growing up in poverty or in care can put in front of young people, and in doing so help foster excellence in our region," he continued.

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