Nationwide: Fareham building society makes huge pledge to stay open on high street while banks elsewhere close

Nationwide in West Street now has a new look for customers to enjoy, boasting new modern features and branding. The mutual investment institution has pledged to keep the location, and others across the UK, open until at least 2026.

Branch manager Jed Whitecross told The News: "Since we got back, it has had a positive impact on us working here everyday, but also for our members. They can see what the building society is doing. They are putting money back into branches and committing to the high street. We have a lot of members who have been coming to us for years, and have seen us go through refurbs. It’s nice to have this one with a bit of a modern look."

Nationwide temporarily shut its doors on February 16 and reopened to the public ten days later. The company appears to be bucking the trend of other banks and building societies. Halifax announced it will be shutting its Cosham high street branch this summer. Last year, Barclays, NatWest and others also closed some of its locations - citing an increase in online banking as the reasoning behind the closures.

Mr Whitecross, of Whiteley, said it's incredibly important to have physical branches that remain open. "There are members constantly at the counters and in the meeting rooms", the 30-year-old added, "It is vital we are here to support our members that do not do things digitally. That is a channel for people to use, which is brilliant, but there will always be a face to face service. The branch promise is currently until 2026, and that could be extended, we don’t know, but we’re definitely here until then."

Mr Whitecross said Nationwide being on high streets and places where customers need them most is something to be proud of - with the Fareham branch remaining very busy. He added: "We’re a heavy footfall branch and it has been consistent. Since coming back into branches from Covid, we’ve seen our levels return to where they were. There’s more people using digital, but we still see many people coming into the branch. We’ve seen a good split."

The mayor of Fareham, Fred Birkett, visited the building society to see the refurbishment for himself. He said face-to-face appointments are “desperately needed” by residents. The 52-year-old added: "It gives those people the confidence to come in and talk to somebody, whereas the other banks are just closing. It is concerning for people.

"When you look at Portchester, they have no banks in their high street anymore, and it is a massive concern for people down there. For Nationwide to commit to keep the branch open until 2026, it is immeasurable, and hopefully other banks will look at this and think about whether or not to close their branches." The Conservative councillor said Fareham high street is suffering from that other high streets are suffering from, but is confident it can be restored.

"We’re very lucky that we have a regeneration plan that we’re looking to implement, and Fareham live which we’re opening soon, and we’ve purchased the precinct to regenerate that," he added. "People’s attitudes to shopping have changed, and we need to change with them. After the consultation we’re going through. We’re excited to push out to Fareham residents what we’re going to be doing. It has got a bright future."