Approximately 1,500 members of The Nottingham Building Society (The Nottingham) are to receive a share of a £70,000 ‘cash back’ reward for making sound financial decisions this year.
The announcement follows the launch of The Nottingham’s Member Rewards scheme in May; a new plan designed to reward loyal savings members for protecting their financial futures with The Nottingham.
Under the member rewards scheme, qualifying members will now have access to a range of exclusive benefits – including access to free mortgage and financial planning advice, discounted estate agency fees and money back on home insurance and funeral plans. The eligible members will be notified by their branch about the scheme starting this week.
Speaking about the scheme, chief executive of The Nottingham, David Marlow, said: “As a mutual building society we have an important role in helping our members to save for and plan for the future.”
“Our all-under-one roof advice and service proposition means we are uniquely placed to help out members whatever stage of the financial journey they are on.”
More than 100,000 of the society’s members are entitled to the rewards, with members who have used the products included in the scheme since May already benefiting from the savings. The Nottingham has also ensured that any member who has used the society’s services since the beginning of the year will also receive a backdated benefit.
Marlow continued: “Having listened to our members, we know that they value our advice and service offering, and they want to be rewarded for their loyalty as well as doing the right thing to plan for and protect their financial futures.”
“Through our Member Rewards programme, we are rewarding loyal savings members with genuine benefits which will help them plan a better financial future for themselves and their families.”
Since the programme’s launch in May, the society has already seen thousands of members take advantage of the rewards and the number of members eligible to receive those rewards increase significantly.
“Our Member Rewards programme seeks to make the process of buying a home easier to understand and more affordable for our members,” Marlow commented. “We are helping more of them find the right mortgage through access to free, independent whole of market mortgage advice and we are reducing the cost of essential purchases like home insurance.”
Marlow aims to provide exclusive access to free financial planning at a time when it is becoming increasingly difficult to access on the high street unless savings are above a certain level.
“Members can also benefit from discounts on funeral planning and wills to help them protect their family’s interests in the future,” he said.
“As we are all living longer and are likely to need to take more responsibility for planning our own financial futures, access to independent, quality, face-to-face advice has never been more important. Through our Member Rewards programme we are able to reward our members who are taking responsibility for their future, and to say thank you for choosing to save with and be a member of The Nottingham.”