Darlington Building Society has created an innovative savings account which will help to raise money for four local hospices.

The Hospice Supporter Account was launched at the beginning of this month.

All new investors receive a distinctive yellow wallet for their passbook and a lapel badge to distinguish them as a hospice supporter.

The badges are also available for sale in Darlington Building Society branches, with all proceeds donated to the hospices.

As well as investors earning interest on their savings, each year Darlington Building Society will make a donation to the hospices, equivalent to one per cent of the average total balance held in all Hospice Supporter Accounts during the year.

Each hospice will receive an equal share of the donation - which will increase as more accounts are opened. The organisations involved are St Teresa's Hospice in Darlington, the Butterwick Hospice in Stockton, Teesside Hospice in Middlesbrough, and the Hartlepool and District Hospice.

Jane Bradshaw, director of St Teresa's Hospice, said: "The Hospice Supporter Account is the first of its kind in the region. It is heart-warming to see local organisations working in partnership with the region's hospices.

"This new account has the potential to raise considerable funds, which will go towards the vital care each hospice provides in the community."

Peter Rowley, chief executive of the building society, said: "We are delighted to be in a position to launch a savings account which is capable of making such a difference to the lives of so many people.