Nationwide Building Society will distribute a one-off £50 payment to more than 12 million members as a gesture of appreciation for their support in last year’s £2.9 billion takeover of Virgin Money.
The deal, which was approved by regulators in July, established Nationwide as Britain’s second largest lender and only mutually owned full-service bank, strengthening its position in savings and mortgages against major players like Lloyds and NatWest.
CEO Debbie Crosbie said the payout acknowledges members’ role in building the financial strength that enabled the acquisition.
Nationwide, the UK’s third-largest mortgage lender, now holds nearly 10% of the country’s total savings deposits.
Customers were told of the "thank you" payment via email and messages in the lender's app.