June 2018 – Rachel Millard for Thisismoney reports on this building society’s annual report and the banker style amounts of members’ money that the directors continue to help themselves to and their claim that it is a mutual society. But nothing new there. The directors claim they are getting the rate for the job. That is quite true because they are the ones that set the rate for the job.
Their annual remuneration report suggests that “targets”, that trigger executive bonuses and require high calibre greedy people who have to be given lots of members’ money, are difficult to miss and are not exactly stretching for people who are supposed to be so talented and so rare.