News

March 2001 – The voting papers are not only highly colourful and highly biased but this time the accompanying letter contains what is almost an instruction rather than a recommendation for members to vote in favour of the board’s wishes.  This is the society with the democratically elected Member of Parliament Gillian Shephard on the board. Our…

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February 2001 – The voting paper also carries a “sits vac.” advertisement for members who may wish to be considered for co-option to the board. Our Comment – At first sight this gives an appearance of a slight inclination towards it becoming a mutual society.  Unfortunately the voting paper also has the “hidden” tick box in…

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February 2001 – Portman directors have rejected the pro-mutual, pro-democracy, pro-accountability resolutions put forward by Mutual Members.  They say there were not enough valid forms. Our Comment – Portman directors’ definition of “valid” will no doubt be highly invalid and highly anti-mutual.  Please follow Tim Tanner’s instructions atwww.mutualmembers.com and find out if yours was one of the…

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The Observer February 4th 2001 – Andrew Bibby reports on the circumstances surrounding Norwich & Peterborough’s rather sad attempt to be “democratic” in its approach to recruiting directors.  The chief executive Matthew Bullock stated “Member-nominated candidates do not necessarily increase accountability.  It’s a romantic notion.  Who do they represent”? Our Comment – The directors do not like the idea…

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January 2001 – From the “Moneyfacts” league table for TESSAs – top performer is Earl Shilton Building Society, bottom is Manchester Building Society.  Nationwide Building Society, the UK’s  largest building society, is a sad 44th out of 89.

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January 2001 – Ballot papers for the Consumer Association council have recently been sent out.  The format is exactly what we would like so-called “mutual” societies to adopt.  Names of candidates are arranged with no indication as to whether they are existing council members or not and no special highlighting of “preferred” candidates. Our Comment –…

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