Nationwide Building Society today announces a one-off payment of £1,200 to more than 11,000 colleagues as it increases support during the cost-of-living crisis.
The payment will be targeted at those who earn £35,000 or less per year – 61 per cent of Nationwide’s 18,000-strong workforce - as it supports colleagues who may be the most financially vulnerable.
This payment is in addition to Nationwide’s annual pay review earlier this year, which gave all colleagues a four per cent pay rise. Outside of the annual pay review, the Society also raised the base salaries of 4,000 of its lowest paid colleagues in response to the rising cost of living.
Debbie Crosbie, CEO at Nationwide Building Society, said: “The months ahead will be worrying for many people and we’re always considering new ways to help our members. But rising prices affect our colleagues too and that’s why we’re providing this additional support.”
Nationwide cost-of-living support:
Nationwide Building Society is supporting members struggling with the rising cost of living. A freephone cost-of-living hotline for those experiencing money worries was launched on 1 August. The service is supported by dedicated, trained experts based across the Society’s main branches. It is available from 9am-4.30pm weekdays and 9am-12pm Saturdays. Nationwide aims to answer calls to the hotline within ten minutes. Outbound calls will also be made.
From September, all frontline colleagues will receive training to provide additional cost-of-living help for members, whether in branch or on the telephone, and in October Nationwide’s cost-of-living experts will be able to offer face-to-face, telephone and video appointments. Virtual and in-branch events will be held for members from the autumn, providing practical help with managing money and avoiding financial pitfalls.
Anyone in financial hardship should contact their bank or building society for support. See more at Cost of living | Nationwide.
