Employees at Nationwide are set to receive a huge bonus to help with the cost of living crisis.
Around 11,000 members of staff are due to get £1,200, according to the high street building society.
It comes as inflation hits 9.4% and household bills are predicted to surge about £5,000 by January 2023.
READ MORE: Brits spending less money on food in cost-of-living crisis – but still dining out
The bonus will not be given to anyone in the company who earns £35,000 or more.
But about 61% of its staff base are estimated to be entitled to the help.
Those eligible will receive the payment in two equal halves with one £600 arriving in October and the other in December.
(Image: Getty Images/iStockphoto)
Debbie Crosbie, chief executive officer at Nationwide, said: “The months ahead will be worrying for many people.
“We’re always considering new ways to help our members, but rising prices affect our colleagues too.”
Nationwide is not the first to support its staff during the cost of living crisis.
HSBC, Barclays, Lloyds, NatWest, Santander and Virgin Money have announced payments for their workforce.
(Image: PA)
Around 35,000 Barclay staff members received a £1,200 pay rise, while HSBC junior employees are set to get a £1,500 bonus.
Lloyds is offering £1,000 to over 64,000 members of staff, while is 99.5% of the bank’s workers.
Meanwhile, NatWest workers who earn less than £32,000 across the bank will receive an additional 4% salary increase.
According to Reuters, some 11,000 Santander employees would receive a 4% pay rise.
Want all the biggest Lifestyle news straight to your inbox? Sign up for our free Daily Star Hot Topics newsletter
READ NEXT: