News 2003 “Mutuality the way Ahead” December 2003 – Click here for speech by Steve Huxham spokesman for the Investors’ Association at conference on mutuality arranged by the BSA and Mutuo entitled “Mutuality the way Ahead”. Is Your ISA a Rip Off? December 2003 – Click here to view Daily Mail report which states “Savers are being ripped off…
News
November 2002 – Tim Tanner, founder of the Mutual Members campaign, is proposing to submit new resolutions and stand for election to the board and is seeking supporters. Please go to www.mutualmembers.com for full details. Our Comment – Last year’s Portman voting form even beat that of the Coventry for being so blatantly undemocratic. Portman closed two branches…
Stroud & Swindon Building Society October 2002 – The society has been found in breach of the Banking Code on their 60 day notice account which had been superseded. However, the Banking Code Standards Board (the industry’s own monitoring organisation) oddly claims the society has demonstrated its commitment to the Banking Code! Our Comment – The Banking Code…
Moneyfacts Awards September 2002 – Moneyfacts the leading independent provider of personal financial data has announced the following awards for 2002. The awards were judged not only on how competitive the products were but also on clarity and fairness. Class Organisation Best fixed rate mortgage provider (without redemption tie-in) West Bromwich BS Best variable rate mortgage provider…
Scarborough Building Society August 2002 – Secret society? There is no mention in the annual report of the circumstances surrounding the sudden departure in February of the finance director, G. R. Waterworth. Our Comment – It is rather odd that members are not considered important enough to be advised of the circumstances. Members need to be assured…
Mortgages July 2002 – A Moneyfacts report shows Egg to be the lowest cost source for mortgages for the third consecutive year. Nationwide, with no shareholders to pay, comes second followed by HSBC and Intelligent Finance. Bottom of the table of 35 lenders is Abbey National. Nationwide Building Society July 2002 – The 2002 election again demonstrated the…
Nationwide Building Society June 2002 – Andrew Muir, who seeks to demutualise the society, has found that his election statement contained in the voting documents has been “accidentally” modified by the society to his disadvantage. Portman Building Society June 2002 – Two branches are to be closed in Pewsey and Ramsbury in Wiltshire because they are not “economically viable”….
Staffordshire Building Society May 2002 – The directors of this society plan to close no less than nine branch offices. Nationwide Building Society May 2002 – “Top Mutual Loses Points” – Daily Mail article by Alex Brummer. Nationwide Building Society May 2002 – All seven resolutions submitted to the board requesting the board to make itself genuinely mutual and accountable to its…
Fat Cats April 2002 – Lord Young (outgoing president of the Institute of Directors) criticised the role of “old pals” non-executive directors who hold several directorships, appear at board meetings once a month, rubber stamp whatever they are told and have little effect on the business. One of the most outstanding examples of this is the…
March 2002 – A member-nominated candidate for the board, Richard Yendall, has revealed that Britannia provides more beneficial rates on accounts to members of UNISON than ordinary members. The list of directors shows one non-executive director to be ex-deputy secretary of UNISON. Members are asked to vote to re-appoint the auditor but, strangely and unusually for…