July 2017 – Nationwide Building Society has taken out full page newspaper advertisements offering “loyal members” a 5 year savings account paying a fixed interest rate of only 1.65%. This rate is easily beaten by other banks without any “loyalty” qualification. “Your” Nationwide! Members who already have a “loyalty” savings account receive a pathetic rate…
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June 2017 – The directors have introduced another anti-member resolution to change the rules to take further precautions against any member who seeks to stand for election to the board. In addition to the infamous “Quick Vote” and the requirement for member nominated candidates to obtain the support of 250 members the directors of this…
June 2017 – While members continue to receive pathetic interest rates on their savings the directors have yet again helped themselves to a large portion of members’ money. Despite all of the obstacles laid in their path the directors have again far exceeded the most unbelievably difficult targets set by their remuneration committee. The bar…
April 2017 – The Daily Mail has published a list showing the usual massive amounts of members’ money that some building society directors have taken again. The list shows the chief executive of Coventry Building Society took 50% more than the previous year. The CEOs at both the Yorkshire BS and the Harpenden BS took 29%…
March 2017 – The annual report for this building society does not make good reading. The directors continue to struggle to keep the society going. The report records a loss of £3.4m for the year ending 12th December 2016 and reserves were reduced by a further £3.7m. Efforts to merge with another building society have…
March 2017 – Nationwide Building Society continues apace with its extremely expensive poetic nonsense advertising campaign with full page spreads in daily newspapers and television commercials. The purpose of this terrible waste of members’ money is lost on most people and appears to be designed to anger those members who have seen their savings interest…
February 2017 – If you are a member of the West Bromwich Building Society please give your support to a member who is seeking to stand as a candidate for the board at the next AGM. Simon Johnson wants to enable members to have a voice in the running of this “mutual” society and that is the…
February 2017 – Anyone who has been a loyal member of this society for at least 15 years will be delighted to learn that, from 1st March, they will be able to earn as much as 0.75% (currently 0.95%) on a “Loyalty Saver 15 Year Issue 4” savings account. However there is no need for members…
January 2017 – Yorkshire Building Society has announced the closure of a number of branch offices. They plan to close 20 branches branded as Yorkshire Building Society in May and 28 branches branded as Norwich & Peterborough Building Society. YBS took over N&PBS in 2011. This will reduce the total number of branches to 260. The…
December 2016 – Gareth Thomas MP, chair of the Co-op party seeks to introduce a 10 Minute Bill to convert RBS into a building society. He says mutualising the bailed-out bank would overhaul the bank’s culture and bolster high street competition and diversity. The bank is subject to major debts and the government (taxpayer) is the…