Nationwide Building Society completed its acquisition of Virgin Money

Nationwide Building Society has completed its acquisition of Virgin Money , positioning itself as the UK’s second-largest provider of mortgages and savings accounts. This move strengthens Nationwide’s ability to deliver value to its members, maintaining its mutual status and promising that profits generated by Virgin Money will benefit customers.

For the first time in the UK, a full-service business bank is now part of a large mutual. This acquisition offers small and medium-sized businesses the chance to bank with a brand that prioritizes customer care and social impact, free from the pressure of external shareholders.

Nationwide has extended its Branch Promise to Virgin Money locations, ensuring that both Nationwide and Virgin Money branches will remain open until at least 2028. While Nationwide customers can’t yet conduct transactions at Virgin Money branches, Nationwide plans to expand its services over time, leveraging Virgin Money’s expertise in personal lending, credit cards, and business banking.

Importantly, customers will continue to benefit from the maximum protection offered by the Financial Services Compensation Scheme on each of their Nationwide and Virgin Money accounts. As the two brands integrate, the combined impact on communities and members across the UK is expected to grow, with Nationwide aiming to make banking more fair, rewarding, and socially responsible for one in three people in the UK.

Nationwide remains committed to delivering top-tier customer satisfaction, competitive savings, and lending rates—all while continuing to be owned by its members.