The Newcastle Journal has launched a campaign to save Northern Rock – with editor Brian Aitken and associate editor Peter Montelier opening up accounts to pledge their support for the troubled bank.
According to the Journal, closure of the bank – which has donated £175m to charity in the North over the past 10 years – would result in 4,700 northern job losses.
Chancellor Alastair Darling this week moved to guarantee all deposits in Northern Bank accounts as share prices fell and thousands of customers queued to withdraw their savings.
Montelier said: ‘It is our belief that this is a sound business. There are 4,700 jobs involved – it makes a big difference to our area.
‘I understand people feel it is a risk to keep their money in the bank, because they have been fed by a media circus. The media is baying for the bank to close.”
He added: ‘We are inviting our readers to open accounts. I believe the Journal can make a difference.”