/retail banking

News and resources on retail banking, consumer finance and reinventing customer experience in finance.
Nationwide trials community fund for last-branch-in-town locations

Nationwide trials community fund for last-branch-in-town locations

Nationwide is trialling a new initiative that will see the bank donate £200 to a max total £10,000 comunity fund for every new account opened by local residents at locations where it is the last bank in town.

Initally launcheed in Windsor, the initiative will see up to £10,000 going towards a local good cause that will be voted for by local people.

The building society says it is also exploring how it will support its other last branch locations - of which there are around 90 across the country.

In Windsor, Nationwide was left as the last branch standing after HSBC and Barclays both closed their doors last year.

As part of the trial run, residents will decide how the fund is spent on three options put forward locally via voting boxes in the Nationwide branch and online polls.

Mandy Beech, Nationwide’s director of retail services, says: “Being a member-owned mutual means that we can make decisions that are in customers’ best interests - not shareholders. We know that, for many, a physical branch is about more than just accessing money - it’s about that feeling of community, belonging, and having a friendly team of faces who are there to support you. This is why we still believe branches are important and why we have promised to keep them open.”

Comments: (0)