Summary
The Nationwide, the UK's largest building society, has promised to keep all of its 696 branches open until at least 2030. This decision extends their earlier commitment as they report more customers using branches despite the trend towards online banking. The move seeks to address concerns about access to financial services for vulnerable groups and maintain community support.
Key Facts
- Nationwide Building Society will keep its 696 branches open until at least 2030.
- This is a two-year extension to their previous promise not to close branches.
- Nationwide made this promise after seeing an increase in branch usage by customers.
- More than 6,000 bank branches have closed in the UK over the last decade.
- Nationwide took over Virgin Money, and its 91 branches are included in the no-closure promise.
- Nationwide aims to support vulnerable people and provide secure financial services.
- Nationwide is owned by its members, which may increase its responsibility to the community.
- Newcastle Building Society is opening new branches, including in shared community spaces.
