Nationwide has announced it will be trialling a new community fund that will see it donate £200 for every new current and savings account opened.
The trial is set to take place in Windsor, UK, with the bank hoping to reaffirm its “commitment to the high street”. As part of the initiative, Nationwide will give £200 for every new current and savings account opened in the branch.
With the bank giving up to £10k back to the community, it has said that local people from the area will vote on what cause the money is used towards. The launch of the new fund will be supported by a special in-branch gig by Windsor’s ‘one and only’, popstar Chesney Hawkes.
Hawkes commented: “I was born here in Windsor and grew up in the area, so when Nationwide got in touch, I jumped at the opportunity to be a part of the campaign. There’s obviously the tongue-in-cheek connection to The One and Only which we’ve had some fun with, but it’s great to be a part of something that will truly benefit the local community for years to come.”
Named the ‘Windsor Community Fund’, the initiative is the first of its kind and will run from 27 February to 26 March.
“Our Community Fund is not just about banking, it’s about investing and saying ‘thank you’ to the town and the people that have stuck with us over the years,” Mandy Beech, Nationwide’s Director of Retail Services, stated.
“We are also exploring how we can support our other last branch in town communities across the country, ensuring those who value face-to-face service aren’t abandoned while enabling them to give back locally too.”
Since 2015, some high street banks have closed down more than half of their branches, with Barclays closing 18 locations across the UK last December and Lloyds further shrinking its own physical banking presence by closing its ‘mobile banking’ operation last month.
In Windsor alone, HSBC and Barclays both closed their doors last year, leaving just Nationwide remaining in the town. Around the same time, Nationwide promised its customers that all of its active branches will remain open until at least 2026.
The bank now has the largest network by brand of any financial services provider, with a total of 605 branches.
Beech added: “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.”
