Vote in Nationwide's AGM 2010

Former_MSE_Alana

What's this about?

Many Nationwide customers can now vote in this year’s Annual General Meeting, and up to 40p could go to the Macmillan Cancer charity for every person who votes

To be eligible, you muct be over 18 and as at 4 April 2010 had either...

• At least £100 in a savings or bank account
• Or had a mortgage for more than £100

How do I do it?

Those eligible should have recieved a voting pack. You'll need to use the security codes found on the letter in the pack so contact Nationwide if you haven't recieved one and think you should've.

20p per vote goes to Macmillan Cancer (up to a maximum of £250,000), plus they will donate an extra 20p for every person who opts to receive their AGM pack electronically for future years (again up to a maximum of £250,000).

You'll also automatically be entered into a free prize draw to win one of ten prizes of £1,000, although you can opt out of this if you want to.

What am I voting for?

You are voting on a number of key issues, such as the election of directors and their pay.

You can register your vote online, by post or in branch but must do so by 12 noon on Friday 16 July 2010.

You can also vote at the AGM itself, which will be held at 11am on Thursday 22nd July at the Queen Elizabeth II Conference Centre, Westminster, London SW1P 3EE.


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tangsman

Have voted online to show my disgust at the Board.
The Executive Board are fleecing the members something rotten with their pay and benefits packages. They say they are a mutual building society but appear to be paying their directors bankers salaries.

Voted against the electronic AGM pack motion as the cynic in me says the money saved will end up in the Directors paypacket.

Customer service at Nationwide has dropped in recent years.

Society has to get back to looking after members/customers interests.

KorkyKat

Have already posted in the thread below - didn't see this one.

https://forums.moneysavingexpert.com/discussion/1771499


I am incandescent with this bunch of millionaire monkeys and have voted No to everything.

I would like to see a resolution demanding to know why they gave the England football team £20 million sponsorship. By what mandate did they do this? When did they consult the savers? Did the directors and friends get free corporate tickets and hospitality? Why are they playing the same game - no pun intended - as RBS when they are a mutual? We al know what happened to RBS and Northern Rock with their penchant for wanting to be associated with sport.

The time for an ethical building society is long overdue.

:mad:

helentewkes

I go to the AGMs and the board were quite smug last year when someone questioned their pay and bonuses. There was nothing that could be done as those that took advantage of the quick vote also agreed to the remuneration package. They claimed that way of voting was not a con as they were sure the members were not so stupid as to vote without reading the form. GO TO THIS YEARS AGM, IT IS YOUR CHANCE TO SPEAK.

happyinflorida

We've got a Nationwide mortgage, so should we be able to vote as never recd voting forms ever since we've had it, over 8 years now?!

Stampede_2

Not long ago their various advertising went something like: " We wont suck you in " distancing themselves from others where the rates kept changing, it was hard to get your money or know what you were charged or being paid, and similar legal but smart marketing tricks that meant you had to continually keep checking what was going on. Now frankly they are as BAD as the rest. The concept of being a Mutual seems in name only. Their rates are NOT the best and other non mutuals can better them and still be as secure.

Nationwide seems to be getting like the savings institute equivalent of the major supermarkets, too big and having cornered the market with lots of money innocents is exploiting us.

Well finally, after a lifetime with them I'm also being a rate tart. My loyalty means nothing to them.

Directors salaries are too high, their offices poorly staffed - but the staff nice as individuals.

And as for sponsoring Football, what a waste, and that comment applies for most commercial sponsorship .. as a Mutual that vast amount of money should be going to the members, not over paid, over rated sportsmen.

Most 'savings accounts' should be renamed as they actually lose money and dont keep up with inflation.

:mad:

Chopperharris_2

I've been a member of Nationwide for nearly 15 years and my parents before that were members for well over 25 years, so we have a long history with them.
I haven't voted for the board for as long as I can remember and I STRONGLY urge other members not to vote for them either.

Their voting procedure and ballot papers make Robert Mugabe look positively democratic!
From what I can see, They put their people on the board, and then sometime later get the members to rubber stamp it through a rigged ballot form. Notice the "Quick option" (mugs option) at the top.
How about it being mandatory that they have to have some real members on the board.

It used to be the best mutual Building Society around with extremely competitive rates and excellent service, but not any more. The only thing mutual about it these days, is the way the directors mutually agree to pay themselves telephone number salaries every year.

It's time people woke up, don't let them get away with it, it's our society, not theirs. Vote against all their recommendations!

:mad: :mad: :mad:

premierfella

Comments above do highlight one possible disadvantage of being a mutual rather than a plc (I of course acknowledge the MANY advantages of mutuality).

If Nationwide were a plc, block shareholders like the pension funds would at least put some pressure on the board to have another look at their pay and remuneration. With "quick votes", the board would have to be close to bankrupting the society, with high profile reporting in the media of the reasons for not using quick votes, before they would begin to feel the equivalent pressure from building society members.

I predict more smug looks and well-prepared answers at this year's AGM. I intend to go along with my Nationwide passbook to find out and also urge other members to do so. Who knows - they might take the hint.

JDPower

Well for the second year running they've not sent me the voting forms. If I was a conspiracy theorist I'd say it's cos I always vote against the board re-election

olly300

JDPower wrote: »

Well for the second year running they've not sent me the voting forms. If I was a conspiracy theorist I'd say it's cos I always vote against the board re-election

Send a recorded delivery letter to member services demanding your voting forms.