How your Society has performed in 2018/19
Strong today,
investing for tomorrow.
Highlights and introductions from your Chairman and CEO
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Jade, member since 2013 and
Sienna, member since 2016
How we’re
Who we are, what we do and what we’re investing in.
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Ian, member since 2003 and
Patty, member since 2016
Helping more
make more of their money
Helping our members buy their first home is just one of the reasons we were founded.
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Jay, member since 1999
Keeping our Society
and our
money safe
We’re here to keep our members’ money exactly where it should be.
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Andreas, branch manager since 2005
Striving to serve our
every day
We think face-to-face service is still really important.
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Carl and Jacob, members since 2018
the right
to do the best for
our members
Our employees are a big part of who we are and how we’re run.
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Elrich, IT Disaster Recovery Analyst since 2016
communities and
making a
We’re working with local communities to make sure everyone has a place fit to call home.
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Adam, Rock Trust project worker
How we’ve
this year
See how we’ve been performing this year and whether we’ve hit our targets.
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Victoria, Member since 2003
All about
our finances
We’re here to offer the best long-term value possible to our members.
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Melissa, member since 2013

How we are doing on service, value and strength

Nationwide is not like most organisations and our key performance indicators (KPIs) are not like those used by most organisations.

We track our performance by focusing on the things that matter most to our members: great service, long-term value and financial strength. Our KPIs and targets for 2019/20 are the same as those for 2018/19. We don’t seek to maximise profits, so profit is not a KPI. Instead, we’ve developed a Financial Performance Framework that helps us strike the right balance between retaining profits to maintain our financial strength, rewarding members now and investing so that we can continue to meet members’ needs in the future. You can find out more about this in our Financial review.


Giving our members the best service possible.

We aim to be the best for customer satisfaction in our peer group as measured by the FRS survey, with a lead of at least 4% against our closest competitor.
Our lead of 4.8% exceeded our 2019 target1.
We also want to be among the top five organisations across all sectors for customer service, as measured by the Institute of Customer Service’s UK Satisfaction Index.
We were joint fifth in January 2019, in line with our 2019 target2.


Helping more members achieve their financial goals, giving them better value products and contributing to local communities.

We’re aiming to have 10 million engaged members by 2022, with 4 million committed members who use at least two of our products3.
We are on track to achieve our 2022 targets.
We aim to deliver at least £400 million of value each year to our members through better pricing than the market average4.
We shared £705 million of benefit with our members during 2018/19.
We’ve committed to give at least 1% of pre-tax profits to charitable activities5.
We committed £10.6 million to charitable activities during 2018/19 meaning that we continued to meet our 1% commitment.


Keeping our members’ money safe and secure.

We aim to have a UK leverage ratio (a measure of our financial strength) of at least 4.5%.
Our UK leverage ratio of 4.9% exceeded our 2019 target.


1 © Ipsos MORI 2019, Financial Research Survey (FRS), 12 months ending 31 March 2016 to 12 months ending 31 March 2019, c.60,000 adults interviewed per annum. Proportion of extremely/very satisfied customers minus proportion of extremely/very/fairly dissatisfied customers summed across main current account, mortgage and savings. Peer group defined as providers with main current account market share >4% (Barclays, Halifax, HSBC, Lloyds Bank, NatWest, Santander and TSB). Prior to April 2017, peer group defined as providers with main current account market share >6% (Barclays, Halifax, HSBC, Lloyds Bank, NatWest and Santander).
2 Institute of Customer Service’s UK Customer Satisfaction Index as at January in each year.
3 Engaged members have their main personal current account with us, a mortgage with a balance greater than £5,000, or a savings account with a balance greater than £1,000. Committed members have two or more of our products, of which at least one is an engaged membership product. Prior to 2018/19, the savings threshold was £5,000; prior year comparatives have been restated using the new £1,000 threshold. Figures are as at 31 March each year.
4 For more information on member financial benefit see our Financial review.
5 The 1% is calculated based on average pre-tax profits over the past three years. ‘Other activities’ includes, amongst other things, internal costs associated with managing our social investment, but excludes employee volunteering.