Political involvement statement

Our purpose and core mutual values underpin our commitment to operate from a position of integrity. We are further guided by:

• the fundamental aims set out in the International Labour Organisation’s (ILO) (opens in a new window) promotion of justice and human rights
• our affiliation with the United Nations (UN) Global Compact (opens in a new window)
• the United Nations Environment Programme (UNEP) Principles for Responsible Banking (opens in a new window).

In addition to this guidance, we ensure we listen to our customers and our colleagues. We hold an Annual General Meeting (AGM) to allow members to have their say. We regularly engage with our colleagues regarding their needs via internal surveys and through work with our trade union.

• This document applies to Nationwide Building Society, which also includes the Virgin Money sub-group and its consolidated subsidiaries.
• It is approved by Nationwide’s Director of Corporate Affairs.

Nationwide is politically neutral and does not support, or seek to influence public support for, any political party. We engage constructively on issues in the interests of Nationwide, its employees, and its customers. Political engagement is carried out on an apolitical basis and managed by our dedicated Corporate Affairs team.

Our political engagement includes, but is not limited to:

• responding to public consultations to convey Nationwide’s position on key matters of importance to the Society and its members
• facilitating branch visits by Members of Parliament (MPs) to discuss local initiatives and charity work
• providing representatives to appear before select committees and parliamentary hearings when invited.
• meeting with policymakers (including civil servants) to develop and influence government policy in the interests of the Society and its members.
• attending political party conferences.

With the exception of members of the Board of Nationwide, members of the Executive Committee, and expressly approved employees, only the Corporate Affairs team are authorised to engage on behalf of Nationwide with politicians, political parties and policymakers.

Corporate Affairs ensures that the information and insights we share in the course of our political engagement activity are up-to-date, complete, and not misleading.

Nationwide does not control, direct or influence any employee’s political activities or affiliations. Employees may only offer support or contributions to political groups in a personal capacity. Our Conflicts of Interest Policy underpins the need for employees to maintain separation between their work and political activity.

Employees are permitted to attend council business during work hours. However, this is entirely in a personal capacity and Nationwide does not seek to influence local or regional politics through an employee’s political activities. This is done in line with industry best practice.

We acknowledge that many Members of Parliament (MPs) will have a personal banking relationship with Nationwide.

Nationwide does not make donations or pay subscriptions to any political party, but will purchase tickets or passes for its representatives to attend political party conferences when appropriate, and from time to time make payments to third parties to facilitate political party events related to matters of interest to Nationwide and its members. These engagements are opportunities for Nationwide to engage with politicians and policymakers and communicate its priorities on behalf of its members. These activities are not intended or considered to constitute party political campaigning, activity or support.

If Nationwide plans to engage commercially with anyone who has held a Government Ministerial role within the last two years, we would require them to make the appropriate application to the Independent Adviser on Ministerial Standards, or equivalent organisation, in line with the Business Appointment Rules for Former Ministers outlined in Section 11.3 of the Ministerial Code (link opens in a new window).

Recommendations made by the Independent Adviser will be given full consideration by Nationwide and if any significant concerns about the appointment are raised through the approval process, Nationwide would not proceed with the engagement.

We are subject to internal auditing of all political engagement activity and associated spending. This oversight is underpinned by our Financial Crime Prevention Policy that seeks to protect Nationwide and our customers from illicit activity which would undermine the UK political system.

Read about our policies and programmes on economic crime

In addition, our Gifts and Hospitality Policy governs the process and approval procedures for gifts, travel and other privileges.

All employees undertaking political engagement activity are expected to adhere to internal policies and standards. A non-exhaustive list of these policies and standards include our:

• Code of Conduct and business ethics - PDF 179KB (opens in a new window)
• Anti-Bribery and Corruption Policy
• Whistleblowing Policy
• Financial Crime Prevention Policy
• Market Abuse Policy (governing employee behaviour in regard to lobbying activity and the sharing of commercially sensitive information)

Nationwide will also ensure that third parties abide by similar ethical standards if undertaking political engagement activity on behalf of Nationwide. Where a breach of the rules is suspected, Nationwide maintains a Whistleblowing Policy to allow colleagues to report concerns.

Any political engagement or campaigning activity must be:

• carried out in line with local laws
• recorded as appropriate
• logged on respective parliamentary registers or other official registers where required.

The Corporate Affairs team is responsible for ensuring that any Nationwide employee coming into contact with politicians on behalf of the Society understands their roles and responsibilities, and closely manages those interactions.

The Society belongs to sector groups which can, and do, carry out political engagement and campaigning. This includes the Building Societies Association (opens in a new window) and UK Finance (opens in a new window).

Last updated: December 2025