June 2025 – Debbie Crosbie the chief exec. of Nationwide Building Society has been given a damehood for her services to financial services. Her honour follows her actions in using £3 billion of members’ money to takeover Virgin Money without obtaining their approval. Elsewhere people are jailed for doing the same with much smaller sums.
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April 2025 -James Sherwin-Smith has failed in his attempt to gain sufficient numbers of nominations to stand as a candidate for the board of directors of this society. However he is not easily put off and is determined to make another attempt at the 2026 AGM. James decided to apply through the FCA to have access…
April 2025 – Nationwide gave a surprise bonus of £50 for 12 million of its members as a reward for not making too much fuss about the board’s takeover of Virgin Money while using £3 billion of members (the “owners”!) money but denying the “owners” any say in the deal. The directors say the takeover makes…
March 2025 – James Sherwin-Smith a member of the Nationwide Building Society is hoping to get sufficient numbers of nominees (250) to support him in his attempt to stand as a candidate for election to the board of directors at the 2025 AGM. James’ began his campaign in August 2024, following their proposed takeover of Virgin…
January 2025 – The Coventry Building Society announces the completion of the £780m takeover process of the Co-operative Bank. The takeover received the approval of the regulatory authorities. Coventry members were allowed no say in the matter as is the custom with so-called mutual building societies. Steve Hughes who now becomes Group Chief Executive said…
August 2024 – James Sherwin-Smith a member of the Nationwide Building Society is hoping to get sufficient numbers of nominees to support him in his attempt to stand as a candidate for election to the board of directors at the 2025 AGM. Any member who attempts to take up their right as a candidate (a right…
July 2024 – An update on the “Change.org” petition that members have raised to demand a Special General Meeting against the wishes of the directors. The chances of any petition or any request for a member resolution being successful are zero as the directors own the society. It is run for their benefit and they will…
June 2024 – The Competition and Markets Authority is to investigate the takeover. This does not necessarily mean there might be any possible competition problems. It is simply routine and possibly a sop to those members who complained. A decision is scheduled for 26 July 2024. Nationwide Building Society / Virgin Money merger inquiry –…
May 2024 – The battle between a group of members that is trying to exercise the right to have a say on the proposed very expensive takeover of Virgin Money and the board of directors of this society continues. Baroness Bowles: Nationwide using sneaky tactics to avoid Virgin vote (msn.com) Members continue to believe the advertised…
April 2024 – A number of members, concerned about the Nationwide board’s proposed takeover of Virgin Money without any input from members, have attempted to present the Nationwide board with a petition signed by 500 members. The petition asks for a Special General Meeting to be held to debate the proposal. Needless to say the…