Nationwide Building Society Tops Customer Satisfaction Index

Nationwide Building Society has achieved the top ranking in the latest UK Customer Satisfaction Index (UKCSI), a significant milestone as it is the first building society to hold the number one position in the long-running survey. The company received a score of 87.3 out of 100, climbing from fourth place in the previous year.

This achievement follows Nationwide's pledge in November 2025 to maintain all its branches until at least 2030, a decision influenced by an observed increase in account openings in areas where their branch is the sole remaining option. The building society has also continued its Fairer Share scheme, distributing £100 to eligible customers annually for the past four years. This year, approximately £440 million was distributed to around 4.4 million members.

However, Nationwide faced scrutiny in 2024 regarding its decision not to seek member approval for its takeover of Virgin Money, a move the company stated was not a requirement.

Sector Performance and Improvement

John Lewis secured second place with a score of 87.1, followed by First Direct in third place with 86.0, down from its previous top position. Ovo Energy, Northumbrian Water, and Land Rover were identified as the most improved brands.

Traditionally, businesses in the retail sector have dominated the UKCSI rankings, which were launched in 2008. However, this year marks a shift, with banks and building societies surpassing retail as the highest-performing sector for customer service for the first time. The banking and building society sector achieved an average score of 82.0 out of 100.

Dame Debbie Crosbie, Nationwide's chief executive, described the result as an "amazing achievement" reflecting customer trust and colleague support. She emphasized Nationwide's mutual status, which prioritizes members through initiatives like keeping branches open, offering banking choices, and returning value via products and services.

Non-food retail scored 81.0 and food retail scored 80.6 in the index.

Factors Driving Satisfaction

The UKCSI tracks 13 sectors across the UK economy, all of which reported an increase in customer satisfaction compared to the previous year. The improvements within the banking and building societies sector are attributed to increased focus on customer satisfaction, loyalty, and retention by leading institutions. This has been bolstered by investments in training and technology, heightened competition, and the implementation of the Consumer Duty standard.

Introduced in 2023 and overseen by the Financial Conduct Authority (FCA), the Consumer Duty sets higher standards for financial services customers, requiring firms to prioritize customer needs in product design, communication, and support for vulnerable individuals.

An FCA spokesperson indicated that the Consumer Duty continues to foster positive customer outcomes and build confidence. The Institute of Customer Service noted that the steady improvement in the sector's customer satisfaction reflects a long-term recovery after reputational damage from the financial crisis. Jo Causon, chief executive of the Institute, highlighted advancements in app development, offering seamless digital experiences alongside well-trained staff for complex needs, as crucial in regaining trust.

The index also indicated a slight decrease in consumer confidence, with the proportion of people feeling better off compared to a year ago falling from 38% to 35% since January.