The Foundation

The Foundation is a registered charity and exists to make grants to support charitable causes which fall within its guidelines. It is run by an independent Board of Trustees who meet regularly to determine its policies. The Foundation also has a small number of staff dedicated to implementing these policies.

The Nationwide Foundation’s Small Grants programme currently offers support to registered charities working in the fields of domestic violence, prisoners’ families and young offenders . Please visit their website for more information www.nationwidefoundation.org.uk (updated March 2007)

What is the relationship between the Society and The Foundation?

Although the Society set up The Foundation, they are separate organisations. The Foundation is not part of the Nationwide Group.

The Foundation acts as a focus for the Society's charitable giving. The Society has given The Foundation sufficient funds each year to support a wide range of charitable causes.

The Foundation also acts as the channel for the payment of potential conversion benefits under the Society's charitable assignment scheme. If the Society did become a bank then the conversion benefits that might be given to Society members joining after 2 November 1997 would pass to The Foundation instead. The Foundation would use the benefits to support its charitable objectives.

Who are Society members?

There are two types of Society member:

Investing members - those who hold a FlexAccount or savings account

Borrowing members - those who have a Society mortgage

The following accounts do not carry membership rights:

• deposit accounts
• personal loans
• credit card
• insurance products
• products offered by subsidiaries of the Society, such as Nationwide International, or UCB Home Loans

Who are Foundation members?

If you joined the Society after 2 November 1997, you will automatically have become a charity member of The Foundation and, in the unlikely event of conversion, any conversion benefits you would have received will be given to The Foundation instead.

Members who joined the Society before 3 November 1997 can also join The Foundation, but must give up their right to any potential conversion benefits. If you would like to know more about this, ask at your local branch, or telephone us on 08457 30 20 10.

Can I be a member of both organisations?

Yes, you will be a member of both organisations if:

• you became a member of the Society after 2 November 1997
• you became a member of the Society before that date, but have chosen to give up any potential conversion benefits, and have therefore joined The Foundation

What are the objectives of The Foundation?

The Nationwide Foundation works towards a just and caring society by encouraging people to take part in building better futures in their communities.

For more information, or to apply for funding from The Foundation, visit www.nationwidefoundation.org.uk.