In a significant move for the UK's high streets, Nationwide Building Society has made a firm commitment to keep its entire branch network operational for years to come.
A Bold Promise for the High Street
The mutual has pledged to maintain all 696 of its Nationwide and Virgin Money branches open until at least 2030. This new promise extends the society's existing 'branch promise' by an additional two years, providing long-term security for communities across the country.
The decision comes at a time when many major banks have retreated from the high street, closing hundreds of branches. Nationwide's stance directly counters this trend, recognising the ongoing importance of face-to-face banking services.
Why Branches Still Matter
Dame Debbie Crosbie, Nationwide’s group chief executive, emphasised the society's rationale. "Branches are important to our customers, to communities and to the health of our high streets," she stated. "That’s why Nationwide will continue to keep branches open in addition to our investment in online and telephone channels."
The statistics support this approach. Between April and September, the building society reported that:
- One-third of its current accounts were opened in-branch.
- Approximately one-fifth of its savings accounts were started face-to-face.
- Over one in 10 new student accounts were opened in branches during the new academic year.
These figures are increasing year on year, demonstrating sustained customer demand for physical locations.
Expanding Reach and Community Role
The strengthened branch commitment follows Nationwide’s £2.9bn acquisition of Virgin Money last year. The combined entity now operates 605 Nationwide branches and 91 Virgin Money outlets.
Notably, the promise applies even where branches from both brands are located close to each other, ensuring no reduction in accessibility for customers.
Since January, 33 more Nationwide branches have become the 'last branch in town' in their localities due to closures by other banks. This highlights the building society's growing role as a crucial high street anchor.
Beyond traditional banking, many branches now serve as community hubs, hosting:
- Dementia UK clinics
- Digital confidence workshops
- 'Safe spaces' for survivors of domestic abuse
This expanded community function, launched as part of the original branch commitment in 2019, adds significant value beyond financial transactions.
