Swindon-based Nationwide has again been recognised as one of the UK’s most responsible businesses in a prestigious awards scheme run by Business in the Community (BITC).
The building society is a finalist in the organisation’s annual Responsible Business Awards, which celebrate organisations that are transforming their communities and in turn their businesses to create a fairer society and a more sustainable future.
Nationwide, the world’s largest building society employing thousands of staff in its Swindon head office, reached the final with a submission based on the success of its five-year Living On Your Side citizenship strategy.
The project aims to address some of the pressing social challenges that most matters to its members, and to help Nationwide become first choice for financial services in the UK.
Nationwide was also shortlisted in the BITC’s School Partnerships Award for its Talking Numbers initiative which aims to improve the everyday number skills of over 200,000 young people by 2017.
The building society was presented with certificates for both award schemes at BITC’s South West Responsible Business gala dinner in Bristol this week.
And making it a hat-trick on the night, Nationwide was also recognised for renewing its BITC Community Mark – one of only 36 businesses across the UK to hold the national standard for leadership and excellence in community investment.
The dinner heard that Nationwide’s Living On Your Side initiative focuses on four main areas:
- Your Home – Nationwide's target is to help 750,000 people into a home of their own by 2017. Example activities include a 15-year relationship with Shelter.
- Your Money – linked to Nationwide’s savings activity, this addresses issues with money-management, debt and financial education with a target of helping 1m people to start saving by 2017. Example activities include improving numeracy skills via its Talking Numbers programme and working with National Numeracy.
- Your Community – Nationwide encourages its 17,000 employees and their 15 million members to engage with their local communities. Nationwide’s target is to strengthen local communities by investing/unlocking £15m by 2017. Example activities include helping 1,020 charities in 2013/14.
- Your Society – Nationwide’s target is to stay true to its mutual values and run its business in an ethical and responsible way. Example activities include being awarded the Carbon Trust Triple standard after reducing carbon emissions, waste, and water consumption.
Nationwide was also the first high street financial services provider to become a principle partner of the Living Wage Foundation. From this year all staff working on a Nationwide site are being paid the Living Wage.
It also believes that transparency in reporting is a fundamental part of responsible business and has expanded the data it discloses, for example, around tax transparency and diversity and inclusion data.
Nationwide CEO Graham Beale said: “Being responsible and doing what is right by our members goes to the heart of the mutual business model.
“I am proud to lead Nationwide on its path to become the number one choice for financial services. Since 2008, our sector has been under the spotlight and Nationwide has shown that success comes through acting responsibly and focusing on long-term sustainability. Living On Your Side is a clear demonstration of our mutual philosophy and culture. I strongly believe that as a major organisation we have a responsibility to tackle the pressing issues that are faced by society.”
Winners of the BITC Responsible Business Awards will be announced on July 7. Earlier this year Nationwide was awarded BITC’s highest five-star ranking in its annual benchmark of responsible business – the Corporate Responsibility Index.
Pictured: The Nationwide team collect trophies for being shortlisted for the Schools Partnership Award and a finalist for Responsible Business of the Year from Business in the Community field director Patrick Mallon, far left
