carpetbagging is it still worth it

MoneySaverLog

Froggitt wrote: »

That vote was allegedly a huge democratic scandal. Voting boxes in branches, with staff *helping* little old ladies fill in their forms........don't get me started......

Yes I remember that too, I was there in one of their branches when the assistant at the counter told her "You don't want any changes to your accounts do you, in that case tick no" I thought about telling her you want a nice little bonus don't you tick yes.

The charity was only really set up so any new members that come along who wont benefit will then go onto vote no, obviously.

Eco_Miser

roddydogs wrote: »

How is N/Ws interest rate lower than banks? I pay 1.35% with Woolwich, how much do you pay?.

At the time N/Ws rate was about 1% lower than the banks. I currently pay zero percent.

DoshStrappedDog

Kept accounts open because of hassle to open new ones when decent rate (if there is such a thing these days) comes up at society have account with. Has anyone got Leeds Building Society account and with their AGM vote coming up this week read the proposed society wording changes...yes know it's a whopping load of jargon to wade through but that's how places introduce things members don't really want. The thing that hit me was the Rules 1 item(j) which used wording concerning dormant accounts and implied to me possible allocation to charity of any shares that may be due to members. I will confess the jargon totally confused me anyone else understand it and if so does it mean dormant accounts can forget any share allocation should it come about? Other thing that I don't like is how anywhere can conclude an account is dormant, surely people put money somewhere to save it so in lots of cases they are not going to be accessing their accounts for years.

Mr_Benn

Excellent thread.

I distinctly remember the day the Nationwide announced they had won the battle to defeat the Mutual vote. I was gutted. It was 2 x £2,000 if I remember rightly for us.
The vote was only won by the Chairman using his right to vote for anybody who hadnt voted. It was a total disgrace.

I came across the last 4 of my account books this morning and was wondering if it was worth hanging onto thje £100 I have in them ?
I have accounts in the West Browmwich , Chelsea , Coventry and Skipton.

Any assistance appreciated .

Froggitt

Werent West Brom pretty much bust when they parachuted Bruiser Bob Sharpe in to sort out the mess? Chelsea is now Yorkshire. Skipton.....the secret of a good joke is.....timing, and thats something they havent got, despite having a decent set of assets.

GeorgeHowell

MoneySaverLog wrote: »

And of cause the Nationwide's Chief Exec is not taking a slice of the cake with his 6 figure share options and 7 figure salary along with many of the board members.

And this is what you get with a mutual.

Brand New Customer Only offers appear on the shelves following advertisements that make them look silly now.

I mean really... http://www.youtube.com/watch?v=H--tdhf1DPg
and now after a year their ISA drops :rotfl::rotfl::rotfl:

Also their rates are not competitive, take for example their ISA, currently the best rate variable ISA is 3.1% contrast that with the AA part of Halifax at 3.5% and when you think that the Halifax used to be a mutal until it merged with Leeds Permanent Building Society and we carpetbagged a nice sum of money for my £500 in my liquid gold account at the time :j

It's relatively easy for organisations to offer very competitive rates when they are part owned and underwritten by the government.

Mr_Benn

Thanks Froggit.

Im tempted to just close these 4 accounts for the £400 , but would be gutted if the mutualised after. Guess the amount would only be small these days anyway.