March 2021 – It’s AGM time again at many building societies and as usual their annual reports show that directors have been awarding themselves large amounts of members’ money despite the hardships suffered by so many due to the Covid pandemic.  Their savings interest rates are close to zero and savers receive peanuts but life…

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October 2020 – A Nationwide Building Society announcement in 2019 stated – “Our Branch Promise – Here today, here tomorrow. That’s our promise to every town and city with a Nationwide branch on its high street. So, if we’re still a part of your community on March 18th 2019, we’ll stay part of your community until…

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May 2020 – Tony Prestedge the ex-deputy CEO of the Nationwide Building Society who waits to join Santander Bank in the autumn as deputy CEO has now been recruited to help Dido Harding as she struggles to get the NHS Track and Trace programme off the ground.  Prestedge was the techy chappy at Nationwide and it…

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April 2020 – Nationwide Building Society has had to make a U-turn on its intentions to pursue a business banking adventure due, according to the society, to the effects of the coronavirus pandemic which, they say, has made it commercially unviable.  The society will return a £50m grant from a pool of RBS cash aimed…

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March 2020 – Some building societies, including Nationwide, Yorkshire and Leeds, have increased their fixed-term mortgages despite a steep interest rate cut by the Bank of England designed to ease the pressure on borrowers. Some societies increased charges on loans after the Bank of England cut the base rate from 0.75pc to 0.25pc. A cut should result in mortgages becoming cheaper – saving…

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March 2020 – Tony Prestedge the deputy chief executive director of Nationwide Building Society has lost his mutual desires and jumped ship to Santander Bank in the same roll in preparation for the top job as Chief Exec. Mr Prestedge took on the responsibilities for various IT developments at Nationwide as the building society sought to…

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February 2020 – Once again the Competition & Markets Authority has had to order the Nationwide Building Society to make refunds to members for breaking the rules.  The society had failed to provide sufficient warning alerting members as was required before imposing charges for unarranged overdrafts.  The rules (CMA RBMI Order 2017 Part 6) have now been broken no…

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