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Staff at the University of York Santander branch have raised £7,000 for the University's Achieving Excellence Bursaries.
The money was raised through the University's community cycling event YuCycle, which took place in June.
The team, led by Christopher Watson cycled 50km and raised £3,500 through sponsorship. This amount was then matched by the Santander Foundation, a scheme that aims to support the academic and business development of students from low income families.
This ensures that seven more York students will receive Santander University Bursaries in the coming academic year. The students will be supported financially, receiving £1,050 annually in both their second and third years.
Prior to the cycle, Jack Marsh, the branch manager of the York campus Santander appealed to potential donors on the scheme's 'Just Giving' page, saying: "None of us are particularly keen cyclists, so the 50km is going to be painful at best."
However all eight members of the team successfully completed the distance, securing the sponsorship.
This is not the first time that fundraising by the Santander team has benefitted York students.
The sum of £7,000 raised by the Santander YuCycle team this year brings the total raised by Santander staff support over the past three years to £15,600. This sum has, so far, contributed to the bursaries of sixteen students from low income families.
Rachel Sellars, the University's Santander Relationship Branch Manager, said: "YuCycle is always such a great thing to be involved with, it has a great atmosphere... We are extremely pleased to have been able to support more University of York students this year through fundraising and Santander's matched donation."
YuCycle is a three year old cycling event organised by the University that takes place in June each year. The event is an opportunity for affiliates of the University to come together and fundraise. This year, the Santander team among others contributed to YuCycle's 2015 chosen causes, which were the Achieving Excellence Bursaries, as well as the University of York Sports Scholarship Scheme.
YuCycle organiser Susie Braithwaite said: "Santander Universities team have continued to lead the way in supporting students' opportunity through their participation in YuCycle, showing their commitment to opportunity for all. We are extremely grateful for their involvement and enthusiasm in encouraging others to take part also."
The money raised by the team at Santander will help students that benefit to be more financially stable during their time studying at the University.