01793 655113 
01793 652409
FAQs
Q: Who are members of The Foundation?
A: From 3 November 1997, all new members of the Society have become charity members of The Foundation. Part of their agreement is to assign to The Foundation their rights to any future windfall benefits. Existing members may also choose to assign such rights to The Foundation.
Q: If Nationwide Building Society converted to a bank, would I get a windfall?
A: No. In the unlikely event of a conversion or take-over, any windfall benefits, which would otherwise be received by charity members, would pass to The Foundation under assignment and would form a fund to support future charitable giving. The Society believes that it is in the best long term interest of its members to remain mutual.
Q: What if a new Society member does not wish to be a member of The Foundation?
A: Unless they were a former Portman Building Society member, they have no option if they wish to open an account. Membership of The Foundation has been part of the terms and conditions of opening an account since 3 November 1997. However, membership of The Foundation does not itself carry any obligations. Former Portman Building Society members will not become members of The Foundation by the opening of new accounts with Nationwide Building Society after the merger date of 28 August 2007 provided they:
- held an eligible account with Portman Building Society
- did not hold an eligible account with Nationwide Building Society and
- maintained continuous membership
Q: What is Nationwide Building Society's involvement?
A: The Foundation is a separate legal entity and is not part of the Nationwide Group. The Society has agreed to support The Foundation in its day-to-day activities and will, from time to time, make donations to the charity.
Q: Who funds The Foundation?
A: It is funded by contributions from Nationwide Building Society, Society employees, members and customers. A £2.5 million donation was received in 1999 followed-up with a further payment of £7.0 million in April 2000, in support of a two-year grant-making programme. £2 million has been received each year subsequently, for charitable giving.
Q: Can members specify the causes to which money is distributed?
A: No - the Board of Trustees has that responsibility but members may encourage any appropriate charity to apply to The Foundation for funding.
Q: Can members specify the causes to which any potential windfall benefits may be distributed?
A: The charitable assignment states that any conversion benefits would be passed to The Nationwide Foundation. The Foundation is a grant making body and would consider any application for funds which falls within the criteria which have been set by the Board of Trustees. It is not possible to specify in advance what organisations might benefit from conversion benefits which The Foundation received; to do so would commit the Trustees at a time when they do not know the full circumstances (for example, how much money would be involved and whether the organisations suggested fall within the agreed criteria). Instead, the Trustees would consider the circumstances at the time, including the applications received.
Q: Who can apply for a grant?
A: Applications will be accepted from registered charities.
Q: Why have certain parts of the country received more money than others?
A: The Foundation does its best to spread the grants evenly around the country, but that process is governed largely by the applications received.
Q: Why is the Society giving my money to The Foundation? I feel I should be able to choose whether or not to give money to charity.
A: The Society's support for charitable organisations is in line with that of other large businesses and feels strongly that it is important to support the communities in which members and staff live and work.
Q: Nationwide is a mutual building society and should not be compared to other businesses - is it using its profits to fund The Foundation?
A: The donation to The Foundation is funded from the profits of Nationwide Building Society. The Society channels its charitable giving through The Foundation and, as the focus is on helping communities and those in need, it is certainly in line with the spirit and tradition of a mutual building society.
Q: How can I obtain details of the specific charities supported by The Foundation?
A: By viewing the "Grants we have made" page or by writing to The Nationwide Foundation, Nationwide House, Pipers Way, Swindon SN38 2SN, or e-mail: enquiries@nationwidefoundation.org.uk
Q: How is the Board of Trustees constituted?
A: There are a maximum of ten Trustees, six are nominated by the Society (no more than three can be directors, officers or employees of the Society). Four additional Trustees may be appointed by the Board and are usually recruited through open advertising. Trustees are chosen so that the Board has the right mix of skills and experience to ensure the Foundation makes the best use of its funds.
Q: How can I become a Trustee on the Board of The Foundation?
A: Vacancies for these positions will be advertised on The Foundation's website and through national and/or regional press publications. Candidates will be expected to have experience, which can further the Foundation's aims and skills which will contribute to those of the team of Trustees. As and when a vacancy arises details will be provided of the skills required. A shortlist of applicants will be interviewed by members of the Board. The successful applicant will be appointed as a Trustee for a specific period, decided by the Board, no trustee serves more than seven years. As a Trustee you will attend quarterly Board Meetings in London or Swindon, be involved in developing strategy for The Foundation, setting out policies to direct the management of the Foundation. You will have the opportunity to visit charities and attend relevant seminars and forums. The role of Trustee is voluntary and no fees are paid, but attributable expenses will be reimbursed.
Q: How can I get hold of a copy of the Rules and Articles of Association?
A: By writing to The Secretary, The Nationwide Foundation, Nationwide House, Pipers Way, Swindon, SN38 1NW.
Back to top
Site updated: 13 October 2008