Nationwide Building Society has announced it will distribute a £100 payment to over four million eligible members this summer, as part of its ongoing “Fairer Share” scheme. The initiative, now in its third year, is being expanded amid a record-breaking financial year and the successful acquisition of Virgin Money.
The mutual lender, one of the UK’s largest building societies, confirmed on Thursday that the payments will be made between 18 June and 4 July 2025. Members who qualify must use Nationwide for their everyday banking and hold either a qualifying savings or mortgage product.
The £100 bonus will reach 4.05 million people—up from 3.85 million recipients last year—making it the society’s largest-ever Fairer Share payout. In total, the scheme will cost £400 million.
Profits Up, Rewards Flowing
Nationwide’s announcement follows a 30% increase in pre-tax profits, reaching £2.3 billion for the year ending 31 March 2025, compared to £1.8 billion the previous year. The building society cited strong growth in mortgage lending and retail deposits, as well as improved customer service metrics, particularly in the wake of its £2.9 billion acquisition of Virgin Money.
Group chief executive Debbie Crosbie described the year as “outstanding,” highlighting a record £2.8 billion returned to members in various forms of value—including the £615 million “Thank You” bonus issued earlier this year.
“Our performance reflects a clear strategy: putting our members first while remaining financially strong,” Crosbie said. “We are delivering on our purpose and rewarding loyalty.”
No Immediate Job Cuts Post-Merger
Since finalising the Virgin Money takeover, Nationwide has risen to become the UK’s second-largest provider of mortgages and savings. The integration of both businesses is ongoing, though Nationwide has confirmed there are no immediate plans for job cuts.
While the companies will continue to operate separately in the short term, Ms. Crosbie said workforce structures would be reviewed “on an ongoing basis.” She also indicated Virgin Money’s Newcastle headquarters would be retained.
Prime Minister Keir Starmer visited Nationwide’s offices in April, praising the mutual’s commitment to reinvestment and responsible corporate governance.
A Model for Mutuality
As banks face growing scrutiny over executive pay and consumer fees, Nationwide’s mutual structure—and its approach to profit-sharing—sets it apart. While traditional banks return profits to shareholders, Nationwide’s surplus is being channelled back to its customer-owners.
Analysts suggest the Fairer Share bonus could encourage other financial institutions to rethink loyalty incentives. Meanwhile, customers eagerly await June, when the next wave of £100 payments is set to hit their accounts.
