This year, Newport-based Monmouthshire Building Society, one of Wales’ largest and most successful financial institutions, hits a major financial milestone – £1bn in assets.

To mark the occasion, the society will be giving back to the wider local community through various funding projects.

For the first stage of the celebrations, the society has launched the Community Acorn Fund to give back to community groups and projects throughout the local geographical area. A £25,000 funding pool has been allocated across the society’s branch and agency network, and local community groups are invited to apply for funding.

To coincide with the launch of the fund, the society has launched a dedicated website, www.acornfund.co.uk, which provides full information and guidance on how to apply. The deadline for applications to be received is September 30, 2014.

Chief executive Andrew Lewis said: “The society has experienced another exceptional year of business and growth, despite the ongoing challenges to the wider financial industry. The forthcoming achievement of a billion pounds of assets is something we intend to celebrate through a series of community-focused projects.”