July 2026 – The MP for Stockport, Navendu Mishra has sent a formal letter to the chair of Nationwide, Kevin Parry, outlining growing unease over the way executives at Nationwide, have not been engaging with members who ultimately own the building society. He also sent a letter, raising similar concerns, to the chancellor, Rachel Reeves. Although his letters were not confined to the Nationwide but to building societies generally. Except that the Nationwide is the most blatantly anti-democratic society, has the poorest standards of governance, is the only building society that does not hold a physical AGM and is the one of which he expressed greatest concern.
A Nationwide spokesperson, not the chairman, responded publicly in the media:
- Defended Quick Vote by citing high approval rates.
- Defended online‑only AGMs as increasing attendance.
- Did not mention lack of member board candidates.
The government response was a Treasury written answer by Rachel Blake MP (not Reeves), stating that governance arrangements are for building societies and their members to determine, and that the government has no current plans to impose requirements.