Nationwide has undergone a major rebrand as it recommits to keeping branches open, while launching a new ad.
The mutual announced its first major rebrand since 1987, centred on emphasising the benefits it can offer as a modern mutual, with the new tagline ‘a good way to bank’.
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The building society has created a new logo which simplifies the old one, with the circle and the house icons symbolising a village. Nationwide also stylised its name in all lower case and removed the words “building society”.
A light-hearted new ad was launched starring The Crown star Dominic West as an out-of-touch banking boss with comedian Sunil Patel as his sceptical assistant to spotlight how Nationwide differs from its banking rivals.
The news came as the mutual stated it would be continuing to invest in its branches. It released a league table showing that it had the most high street branches of any major banking brand in the UK, at 605. The closest contender was Lloyds, with 598.
Much of Nationwide’s recent marketing has focused on explaining the benefits of building society to a new generation, especially as the cost of living crisis has given it a clear way of differentiating itself. While Nationwide offers much the same services as a high street bank, it is owned by its members rather than shareholders.
According to the mutual, the rebrand aims to ensure it “remains attractive and relevant for future generations of customers looking for a financial services provider that puts people before profit.”
As well as specific promotions around helping people through the cost of living crisis, the mutual earlier this year returned £340 million in profits to its members.
Debbie Crosbie, Chief Executive of Nationwide Building Society, said: “Nationwide offers a large-scale alternative to the shareholder-owned banks.
“As a major challenger, we are committed to offering a good way to bank for our customers through better service, value and fairness.
“Our rebrand is the most significant in 36 years and ensures we continue to be relevant for the needs of customers today and tomorrow.”
The brief for the refresh was awarded to agency NCA back in March, as Catherine Kehoe began her tenure as CMO.
Kehoe, a former Lloyd’s exec, was announced as the next CMO in August 2022.
