Nationwide Building Society

tin586

AGM voting closing soon.

Isn’t it time to take a stand? (Again.)

The fatcat directors are raking in huge salaries while cutting saving rates.

Of course they can ignore the votes - which they consider ‘advisory’.

But if enough members vote against and, more importantly, remove their funds it will send a clear message at least.

The Daily Mail has rightly been raising this.
(Other news websites are available.)

What do people think?

Voyager2002

I have voted against their pay rises every year for the last decade. For some reason, they don't take any notice.

tin586

Me too!
I just feel a mass outflow of funds will be the only way they MIGHT take note.
With the cut in rates even for long standing members, it’s a no-brainer.
Thanks.

newatc

I have also voted against their remuneration for many years. Obviously does no good but couldn't vote otherwise.

C_Mababejive

I too have voted against directors gorging themselves whilst cutting interest rates. I will also be arranging for a capital withdrawal in the near future.

cosh25

I used to work for a different financial institution where we processed ISA transfers to other providers. I was always surprised how many customers moved their money to the likes of Nationwide who paid on average much lower interest rates. I supose as long as people keep plying their money into them then I doubt a change will come... even if a lot of people voted against numeration. I'd imagine its just a tick box excercise of being a 'building society' these days and doesn't really mean much.

Flugelhorn

haven't voted yet - how do I vote against the remuneration package?

jamei305

All those voting against - how much of a reduction in salaries would you like to see compared to other financial institutions of similar size?

bristolleedsfan

Flugelhorn wrote: »

haven't voted yet - how do I vote against the remuneration package?

I voted against Joe Garner and against directors remuneration report, whether or not it makes any difference at least had a say.

https://www.pressreader.com/

jimjames

C_Mababejive wrote: »

I too have voted against directors gorging themselves whilst cutting interest rates. I will also be arranging for a capital withdrawal in the near future.

I really like them cutting interest rates, it means I get my mortgage at 2%.

david78

The use of a "Quick Vote" on the ballot forms/online form should be banned by the regulators. Most of the "For" votes (and none of the "Against" votes) come from the Chairman voting on behalf of Members who use this option instead of the Standard vote option.