Nationwide Isn't From the High St That Different Banks After All ; the Building Society That Boasts of Its Mutual Status Is Accused of Hypocrisy Over Its Decision to Close the Last Branch in a Village [Scot Region]

Summary

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FOR years it has promoted itself as being 'proud to be different' from High Street banks by putting customers, and not profits, first. It has reinforced the message by using comedian Mark Benton in television adverts that contrast its homely mutual approach with the hard-nosed tactics of banking rivals.

But Nationwide, the country's biggest building society, stands accused of hypocrisy and acting just like a bank over its plans to pull out of Bagshot, Surrey, depriving villagers of their only bank or building society branch. Nationwide announced the closure of the branch at the beginning of the month by putting up a poster in the window, stating it would be closed on May 22. The society claims that the branch is not making enough money and that it does not sell enough financial products to make it viable.

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Extract

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Nationwide Isn't From the High St That Different Banks After All ; the Building Society That Boasts of Its Mutual Status Is Accused of Hypocrisy Over Its Decision to Close the Last Branch in a Village [Scot Region]

But this does not wash with many villagers and traders who are furious over the decision. They believe by pulling out of Bagshot, the society is undermining the viability o...

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