Banking - but fairer, more rewarding, and for the good of society.
type
Building Society
Owned by and responsible to their members (rather than shareholders)
Focus on providing mortgages and other services that help members buy homes
profit reinvestment
Most of its comes from customer savings and deposits, not external investors or wholesale markets (60%).
The majority of its lending goes to homebuyers through mortgages, rather than riskier or more speculative investments (85%).
trustpilot
1.2/5 based on 353 reviews
customers
Businesses, corporations, housing associations and other social housing providers, other providers of public services eg schools, hospitals, fire services etc.
ownership structure
Clydesdale Bank is part of the Virgin Money group, which is owned by Nationwide.
Nationwide bought Virgin Money in 2023, and through that, it also controls Clydesdale Bank since Virgin Money owns Clydesdale. The three now operate under a coordinated governance structure, with Nationwide overseeing both Virgin Money and Clydesdale Bank as part of its wider group.
services provided
ethical credentials
charity work
The building society donates 1% of its pretax profits to charity.
The Nationwide Foundation provides advocacy around housing, research and campaign work on housing.
The Nationwide Foundation charity is an independent charity that improves the lives of people in need by funding charitable causes and influencing change.
policies
Prior to acquiring Virgin Money in October 2024, Nationwide Building Society did not provide lending to businesses and, therefore, did not need a policy on lending. It claims that business lending constitutes a small part of its overall activity and states the following in its Responsible Investment Statement.
“Nationwide Building Society does not lend to or invest in: arms that are subject to a treaty or convention, to which the UK government is a signatory (such as nuclear, biological and chemical weapons) businesses involved in the exploration, extraction, or mining of coal businesses that generate revenue directly from oil and gas extraction power generation from coal-fired power plants, non-sustainable, large-scale deforestation activities for alternative land use purposes, including palm oil production.”
It refers customers to Virgin Money’s Sensitive Sector Statement.