Nationwide extends cost-of-living support for members 

Nationwide Building Society has announced its investment in a range of services to support its 16 million members – including giving colleagues bespoke training, offering financial health checks and providing education and support through trusted experts. Assistance will be available in branch, on the new freephone helpline or video direct to members’ devices.

The helpline is the latest intervention from the Society and follows its promise to not leave any town or city where it is based without a branch until at least 2024.  Further initiatives will be launched in the coming months, Nationwide Building Society said.

Nationwide said it is committed to a range of services, including:

• Dedicated hotline: From August, a freephone cost of living hotline for members experiencing money worries will be answered by dedicated, trained experts based across the Society’s main branches. The service will be available from 9am-4.30pm weekdays and 9am-12pm Saturdays. Nationwide aims to answer calls to the hotline within 10 minutes.
• Checking in on struggling members: From August, Nationwide’s in-branch experts will contact members demonstrating obvious signs that they may be struggling. The calls will aim to better understand their situation and where relevant, support will be offered to help get them into a better position. This expands on the existing work done through the Society’s centralised ‘Money Worries’ team.
• Cost of living training: From September, all frontline colleagues will receive the necessary training to provide additional cost of living help for members, whether in branch or on the telephone. Members will be directed to the right resources, including the Society’s Cost of living hub, product support and help with money management via Nationwide experts and trusted third parties, such as StepChange - the UK’s leading debt charity.
• Financial health checks: From October, Nationwide’s cost of living experts will be able to offer face-to-face, telephone and video appointments. As well as directing members to relevant support, they will offer financial health checks, helping them manage their money, save and build resilience.
• Cost of living education: From the autumn, regular virtual and in-branch events will be held for members, providing practical help with managing money and avoiding financial pitfalls.

Debbie Crosbie, chief executive of Nationwide Building Society, said: “We know the challenges that many of our members face from the cost-of-living crisis. We’re here to help and will make it as easy as possible for people to get the right support when they’re worried about their finances.

“That’s why we provide expert help from our branches, and now through the new hotline, as well as by video. We can do all of this because we are a mutual and our singular focus is our members, and we use all profit for their benefit.”