Nationwide wins responsible lender award
Nationwide Building Society has been judged the winner of The Most Responsible Credit Card Lending Practices Award for the third year in a row at The Card Awards. This is the first time that any organisation has won this award three years in a row. The Society also picked up The Best Achievement in Customer Service Award at the event at London's Grosvenor House Hotel on 2nd February 2010. Nationwide was recognised for its ‘Working Together' responsible lending programme and its customer service improvement programme.
The Card Awards praised Nationwide's approach to credit card lending and the various activities it has undertaken, including:
The Society's positive order of payments. Nationwide is the only high street provider to allocate customers' credit card payments to the debt with the highest interest rate first - saving customers' money in interest payments.
‘MoneyActive', launched with cross-party support from Vince Cable MP, Mark Hoban MP and Ian Pearson MP, is Nationwide's new partnership with Citizens Advice, giving £3 million support over three years to fund 1,300 volunteers to help people make informed financial decisions.
£2 million investment in its free interactive financial-skills website NationwideEducation.co.uk, which has received over 4 million hits.
A ‘Payment Difficulties' webpage and links to Visa's BetterMoneySkills debt advice website.
Nationwide's ‘Working Together' programme underlines its approach to responsible lending. It comprises of a series of initiatives which aim to give customers the knowledge to help themselves. In addition, its customer service improvement programme, acknowledges the success of Nationwide and TSYS Managed Services, who run the Society's credit card contact centre, working together to deliver an excellent level of service to customers by delivering speed of access, simplicity of contact and confidence in security.
Nationwide's head of credit cards, Richard Napier, said: "To win the Most Responsible Credit Card Lending Practices Award for the third year running and The Best Achievement in Customer Service Award is a great accomplishment and demonstrates Nationwide's commitment to providing products which are fair and transparent, such as offering our customers a positive order of payments and giving members an efficient, friendly service."