Britain's top banker, Debbie Crosbie, announced Nationwide's financial results with a £100 gift to members of the building society.
The cash sum follows Ms Crosbie's decision in March this year to buy rival lender Virgin Money for around £2.9bn.
He said the deal offers an “exciting opportunity to create a more diverse business that delivers even more value to our members.”
Virgin Money's asset value of £4.4bn is £1.5bn more than the £2.9bn acquisition price, meaning Nationwide has closed the deal for the company at a significant discount to its book value .
In another concession to her members, Ms Crosbie is offering her 16 million account holders a 5.5 per cent bonus.
The mutual financial institution is also offering £200 to existing members who do not use Nationwide for their daily banking if they switch with them and open a current account.
Announcing its results on Thursday, the building society said it posted profits in the last financial year of £2bn, slightly below last year's figure of £2.3bn.
It said the reason for the slight drop in profits was due to its decision to prioritize better returns for members.
This included £1.8 billion in better savings rates and £344 million through the Fairer Share Payment 2023, which delivered £100 to eligible members' accounts last year.
The firm added that mortgage and deposit balances have grown since last year. Mortgage balances rose to £204.5bn in the latest set of results, compared to £201.7bn in 2023, and member deposit balances rose by £6.3bn.
The building society, which has the largest single-brand branch network in the UK, also recently decided to extend its commitment to keep branches open where they already have locations until at least early 2028.
Ms Crosbie said: “We deliver the greatest value to our members and our strong financial performance means we can expand the ways in which members benefit from our success.
“In 2024, for a limited period, all our members will be able to access the preferential interest rate of our Exclusive Member Bonus.
“Eligible members who have chosen us for their daily banking will also receive a national fairer share payment, and we are offering a £200 members-only incentive to encourage more members to switch their main current account with us” .
