Date Published 07 November 2012
Nationwide Building Society has this morning launched a long-term drive to boost people’s homes and savings.
It is doing so with support from a number of charitable partners including Shelter and National Numeracy.
Nationwide’s triple-speared campaign is planned to last five years, and comes under the headings of Your Home, Your Money and Your Community.
Under Your Home, it plans to help 750,000 people into a home of their own by 2017. Nationwide plans to develop new products for first-time buyers, and hold education events to help first-timers on to the housing ladder.
It will also look at financing affordable and social housing programmes. Some of its efforts will go into the private rental market, while a new £1m partnership with Shelter is designed to help ward off homelessness.
Under Your Money, it plans to get one million to start saving, and has a partnership with Money Numeracy to help education. And under Your Community, it will invest £15m in local good causes identified by customers.
Chief executive Graham Beale said: `I believe Nationwide is ideally placed to take a lead on tackling the serious issues of housing, money management and communities.
`Our mutual status enables us to meet the needs of our members, rather than chase short-term profit for shareholders, and that means we can focus on addressing the issues that really matter to our customers, their families and the communities where they live.
`We look forward to working with our partners and, where possible, with MPs and the Government in our citizenship activities.`
Nationwide conducted extensive research with its customers, employees and wider stakeholders. The resulting document, Living on Your Side, highlighted housing, financial guidance and community investment as the three main areas of concern.
The report found that 28% of households have no savings, while community charities have seen levels of giving fall by 10% since 2008.