[3] It operates as a British mutual financial institution, meaning it is owned by and run for the benefit of its members.

As of 2022, Nationwide ranked as the second largest provider of household savings and mortgages in the UK, holding a 10.3% market share in current accounts.

Based at New Oxford House, High Holborn, it changed its name in 1970 after deciding to leave the British Co-operative Union.

[9] In 1999, Nationwide, together with various UK tabloid newspapers and media, launched a campaign against controversial cash machine fees.

[citation needed] This prompted Nationwide to warn Barclays that it would take legal action against the bank if it did not back down.

Nationwide claimed Barclays had broken the rules of the LINK network of cash machines, which the bank had joined earlier in the year.

[citation needed] In 2007, Nationwide members voted at its Annual General Meeting to donate at least 1% of pre-tax profits to charitable activities each year.

Nationwide completed a merger with Portman Building Society on 28 August 2007, creating a mutual body with assets of over £160 billion and around 13 million members.

Portman's earliest component was the Provident Union Building Society founded in Ramsbury, Wiltshire in 1846.

[18] The branch, based in Douglas, provided a range of offshore savings accounts in euro, pound sterling and US dollars.

In 2021 the development won the ‘Building for a Healthy Life’ prize as part of the Housing Design Awards.

[25] In March 2022, Kevin Parry replaced David Roberts as chairman; and in June 2022, Debbie Crosbie, who had been CEO of TSB Bank, succeeded Joe Garner, as chief executive.

[27] The move was part of a wider commitment to maintain a High Street presence as many banks continue to close branches.

[28] All 605 branches were to receive investment to enable the building society to protect face-to-face customer interactions.

[29][30] On 7 March 2024 Nationwide announced that they had made an offer to buy Virgin Money UK for £2.9 billion.

The Building Society Members' Association began to campaign against acceptance of remuneration reports at AGMs in 2009,[43] and with the CEO's compensation rising 45% to £2.25 million by 2012[44] the board's levels of pay attracted criticism in The Guardian,[45] and The Huffington Post.

[46] Nationwide has also had to pay out over £473 million of compensation to customers for the mis-selling of Payment protection insurance (PPI).

[47][failed verification] Nationwide had to scrap its intentions to pursue a digital business current account in April 2020, due to the effects of the COVID-19 pandemic.

[52] When restrictions were lifted following the COVID-19 pandemic, Nationwide stated that its office-based staff could choose whether to work from home or return to the office.

[56] There is no readily available information published as to why a Nationwide branch in the High Road in Tottenham closed down without replacement in the same area.