Nationwide to offer cost-of-living support for members

It will launch further initiatives in the coming months

Nationwide to offer cost-of-living support for members

Nationwide Building Society has announced the launch of a new dedicated freephone hotline next month to help members struggling with the cost-of-living crisis.

The hotline for members experiencing money worries will be answered by dedicated, trained experts based across Nationwide’s main branches. The service will be available from 9am to 4:30pm on weekdays and from 9am to 12pm on Saturdays. Nationwide aims to answer calls to the hotline within 10 minutes.

The building society is investing in a range of services to help 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.

Meanwhile, beginning next month, 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.

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 building society’s cost-of-living hub, product support and help with money management via Nationwide experts and trusted third parties.

Starting 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.

From the autumn, regular virtual and in-branch events will be held for members, providing practical help with managing money and avoiding financial pitfalls.

“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,” Debbie Crosbie, chief executive of Nationwide Building Society, said.

“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.”