Nationwide Building Society Launches First Rebrand Since 1980s
Nationwide, the largest High Street lender with 605 branches, recently unveiled its first rebrand in nearly four decades. In addition to the rebrand, the building society has launched a new TV ad featuring actor Dominic West. The ad, set to air during The Great British Bake Off on Channel 4, promotes Nationwide’s commitment to keeping branches open.
The humorous ad depicts West as a sleazy bank boss who mocks customers and staff while advocating for branch closures. The portrayal may remind viewers of former Royal Bank of Scotland chief Fred Goodwin, known as Fred the Shred for his cost-cutting measures. Unlike major competitors that have closed thousands of branches since 2015, Nationwide remains dedicated to providing face-to-face customer service.
As part of the rebrand, Nationwide is updating its traditional logo to a more abstract design. The decision to invest in branches sets Nationwide apart from banks like Lloyds, Barclays, HSBC, and NatWest, which have prioritized digital transactions to cut costs. Nationwide’s mutual ownership structure allows it to prioritize customer satisfaction over shareholder profits.
CEO Debbie Crosbie sees the rebranding as a significant milestone and a way to reaffirm Nationwide’s commitment to its members and local communities. Over 35 branches will be rebranded initially, with a total of 200 branches expected to undergo the transformation by January.
Despite concerns about the long-term viability of physical branches, Nationwide remains a financially robust institution compared to smaller banks. While Crosbie has faced criticism for her pay and the exclusions in the “fairer share” scheme, Nationwide has maintained its position as the top building society for customer satisfaction for 11 consecutive years.
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