The Co-operative Group has raised £6m for the Carers Trust through a “transformative” charity of the year partnership.

The 2013 partnership beat its fundraising target of £5m and the money raised by the Co-op’s staff, members and customers will allow the charity to provide breaks, information, advice and support for the UK’s estimated 500,000 young adult carers.

Carers Trust, which had a turnover of £8.8m in the year to March 2013, was formed in April 2012 when the Princess Royal Trust for Carers merged with Crossroads Care.

The charity said the partnership has enabled it to make the first tranche of grants from its About Time programme to 21 carers’ centres and schemes around the UK, worth between £34,000 and £43,000.

At least 50 grants in total will be made over the next two years from the partnership money, the charity said.

The partnership has also funded a website for young adult carers, called Matter, to address issues of social isolation and provide advice, support and information.

Thea Stein, chief executive of Carers Trust, said: “I have been overwhelmed by the success of our partnership with the Co-op and, with the support and enthusiasm of its staff, members and customers.

“We dared to dream of a transformative year for Carers Trust and for the young people in communities who, at a crucial time in their lives, desperately need our help, support and services.”

Employees of the Co-op’s businesses, including food, pharmacy, funeral care, banking and legal services, have also been raising awareness of the challenges faced by young adult carers.

The Co-op has charity of the year partnerships every other year and will spend this year evaluating it work with the Carers Trust and picking a new partner for 2015, a spokesman for the group said.

A shortlist of possible charity of the year partners is due to go to a staff vote in October time, he said.

Nick Folland, external affairs director of the Co-op, said: “Young adult carers are often described as the glue holding families together; they take on incredible levels of practical and emotional caring responsibilities, often at the expense of their own education and aspirations. I am extremely proud that the enthusiasm of the Co-op’s staff, members and customers is not only helping to raise awareness of this hidden issue but is also making a real difference to thousands of young lives.”

This story was amended to say it was the Carers Trust that was formed from a merger in 2012.