CompaniesMay 15 2013

Nationwide to close 45 branches after merging brands

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ByKevin White

The country’s largest mutual will integrate all remaining branches under the Nationwide brand, enabling customers of the three building societies to access the same services as Nationwide customers.

Nationwide director Chris Rhodes said: “Today, 70 per cent of the one million customers with Cheshire, Derbyshire and Dunfermline live within five miles of their nearest branch. Once integration is complete in 2015, 85 per cent will have a branch within five miles.”

Adviser View

Mike Pendergast, IFA for Cheshire-based Zen Financial Services, said: “I think these types of branch closures are inevitable, as more of us switch to online banking.

“A relative of mine worked at the Cheshire, and apparently it was very much pass-book related business, so I imagine it would be the older customer, who does not use the internet, who will be affected most.”