Firm makes £3.2m available to help struggling consumers

Nationwide has announced it is to make £3.2 million available for disadvantaged groups.

The money will be distributed by the Nationwide Foundation, a registered charity which was set up by the financial services provider.

Chief executive of the foundation Lisa Parker said without financial education, many consumers in the UK will not know how to survive the "harsh economic realities" currently affecting the country.

According to Omar Khan of the Runnymede Trust, the money will help people struggling to cover their outgoings, as well as a range of other consumers - including those who are finding it difficult to secure loans.

He said: "In the current economic climate, there is understandable concern that an increasing number of people will struggle to pay their bills and make ends meet."

Established in 1968, the Runnymede Trust is an independent and voluntary funded organisation which seeks to promote a successful multi-ethnic Britain.