April 2021 – A strategic review (yet another one) carried out by Whitecap Consultants, a strategy consultation company, in conjunction with the BSA and others, endeavoured to obtain the views and understanding of the meaning of mutuality from the directors of all building societies. This presented a difficult challenge for the building society directors all…
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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…
March 2021 – Nationwide are rather coy in their advertising of the new TV sponsorship deal which lasts 18 months until 2022; it is on the back of their 2020 deals with the football authorities of the 4 nations – England, Scotland, Wales and Ireland – which was focused on the various iterations of the…
December 2020 – The Sunday Times reports on members’ bad experiences in attempting to make claims on Nationwide’s travel insurance. Sunday Times Report
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…
July 2020 – Nationwide, as with most other companies, has been unable to hold an AGM in the normal way and held it online. The meeting was held at their headquarters at Swindon with directors and sufficient numbers of staff to make up the required 50 for a quorum, although only three people could be seen. So there…
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…
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…
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…
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…