My vent to Nationwide voters

dodger1

Are you aware that the six Nationwide directors between them are paid a basic salary of £2,247,000 but with allowances and performance pay this rises to £6,633,000. The anual report makes it very clear that their basic salaries are going to rise substantially with one of the reasons given that they have had no increase for two years.

They fail to mention that bonuses this year to the directors were a total of £2,992,000. I don't really think they need any increase in the base salary when an average of £500,000 is paid to each director in bonuses. This is a disgrace even in normal times let alone the present economic situation, I urge people to vote against everything on the voting form and let these parasites know how we feel.

davidlizard

Hear Hear!!

And also these were the ones that decided to get rid of the free cash withdrawals from cash machines abroad and replacing it with a fairly substandard travel insurance product.

They are also the same lot who after many years of giving its existing loyal members access to the same products as new customers, started slapping "new customers only" over the most attractive savings and mortgage products.

The Nationwide seem to forget they are a mutual (i.e. owned by its members) and act more and more like a PLC each day.

Sadly very few people bother to fill these things in, let alone read them, so the chairman will vote "how he sees fit".

somethingcorporate

Nationwide have been on the slide for years - they are turning into a greedy bank.

dodger1

They quote "We are different from banks. We have members instead of shareholders, and it's our members who benefit from our success." Really !!!!!!!! How come I get a better interest rate from my bank and I get a dividend on my shares. Shareholders get a much better deal than members.

somethingcorporate

It's like co-op saying they are different to Tesco because they are more "ethical". Whilst that's great, as a customer how does that benefit me? If your rates (or prices) are rubbish I am off!

DCFC79

Is so many non exec directors really needed

nomoneytoday

It's a vote - if you disagree then as a member you have the right to tick no

somethingcorporate

Non-execs only get "expenses" so not really a massive burden compared to the £1m+ remuneration for the execs!

dealer_wins

When it is compulsory to have a product with Nationwide, I will think it is any of my business what they pay their staff.

The more they are paid, the more tax the government will get, a nice 50% as well :beer:

Chester85

Nationwide are a business.

They've made a profit and haven't taken a penny in bailouts. So surely their directors should be suitable rewarded.

My main issue is the use of 20p per vote to raise up to £250,000 for charity.

Which compared to those salaries...is nothing