What is the partnership?
Nationwide Building Society has been working with Macmillan Cancer Support since 1993, raising more than £7.1m to improve the lives of people affected by cancer. In 2015, the two organisations took their partnership to the next level by creating a financial support service.
What did the company do?
Macmillan research shows 95 per cent of cancer patients do not contact their bank or building society when faced with financial difficulty because they fear their diagnosis will have a negative impact on their financial situation.
Nationwide and Macmillan worked together to launch a service to help with various financial issues a person with cancer might experience, including immediate requests for support, such as overdraft extensions, payment holidays and fee waivers, and the longer-term management of financial difficulties, such as mortgages and loans support. Nationwide set up a number of new processes, including a referral system, and 550 branch staff received training ahead of the pilot launch.
Why did it win?
More than 500 people have so far benefited from the Specialist Support Service and 100 Nationwide customers have been referred back to Macmillan, benefiting from further financial guidance. The scheme was initially run as a six-month pilot, but has now been rolled out across Nationwide's business. Nationwide is also part-funding the Macmillan Financial Guidance Service, which helps people affected by cancer to navigate the financial services sector and improve their financial capability.
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