A STRUGGLING residential home for elderly people is banking on "euro" help to boost their coffers.

Bosses at the Heathlands Village in Prestwich have launched a fund-raising campaign which they hope will go towards getting them out of the red.

They aim to collect as much surplus foreign currency as possible after it became defunct with the introduction of the euro earlier this month.

And Heathlands bankers have agreed to change the European coins and notes into ready cash that can be used for the benefit of the home and its residents.

The 103-year-old residential and nursing complex, in Heathlands Drive, revealed major financial problems last autumn when they revealed a deficit of more than £700,000. Trustees of the home, which has served the Jewish community since its humble beginnings in Cheetham Hill Road in 1899, announced they faced closure within two years unless financial support could be generated.

Soon after they embarked on a campaign to raise funds and appealed to relatives of the residents to contribute up to £150 a week extra to help cover costs.

The home was criticised by some families who complained they could not afford the extra money and many said they objected to the way the situation was handled.

General manager at Heathlands, Mr Boyd Farrar, said: "We have been forced to approach relatives and be quite firm, and it has not been easy.

"But most people have understood our dilemma and have helped make up the shortfall in our costs.

"It has helped the problem but not sorted it. This new idea is just one facet of a major campaign to raise funds."

Mr Farrar said the problems at Heathlands, which is a registered charity and the second largest old people's complex in Europe, were shared nationally.

"But Bury is one of the worst paid authorities in the country," he added.

Mr Farrar quashed rumours that Heathlands was facing bankruptcy but said the situation was "serious".

He said: "Not in our memory have things been as bad as this. It is not our fault. It is a downhill government policy."

Mr Farrar said: "We have residents here who fought in the world war in the hope that society would help look after them."

He urged people to get in touch before the end of February if they had surplus currency that could be changed. Heathlands can be contacted on 772 4800.