Lloyds concern

It is with rising concern that we learn of the intention of Lloyds Banking Group to terminate its historic covenant with the Lloyds TSB Foundation for Scotland (your report, 24 February).

Since it was founded in 1995 after the merger between TSB Group and Lloyds Bank, the foundation has distributed more than 82 million from Lloyds Banking Group plc and this money has improved the lives of hundreds of thousands of young people across Scotland.

The foundation has been a long-time friend to us, funding projects which support the most vulnerable children and young people across Scotland.

We have always been particularly impressed that its support for charities extends way beyond distributing grants.

The staff visit our projects and get to know us, sharing experience and knowledge that is invaluable and irreplaceable.

This is a sad moment in the history of charitable giving and corporate social responsibility in Scotland.

Addie Stevenson

Chief executive, Aberlour

Louise Warde-Hunter

Strategic director, Children's Services, Scotland and Northern Ireland, Action for Children

Martin Crewe

Director, Barnardo's Scotland

Anne Houston

Chief executive, Children 1st

Phil Robinson, chief executive, Quarriers