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Nationwide AGM

I received today email from Nationwide concerning AGM
Here an extract from the Chief Executive in the section -Your Questions answered
We continue to look for ways to make saving rewarding to our members by, for example, offering special rates for members, or including prize draws on certain accounts to encourage regular saving.
Well that was laughable - I wonder if Marcus large increase in deposits and depositors is not a direct result of members general dissatisfaction with Nationwide
I know that in prior years the Board recommendations have been approved and passed with a very large majority/
However it would be interesting if more members vote against the Board this year.
Yes it will not make any difference but if the dissenting vote goes up from say 5% to 7 or 8%
it may jolt up the Board a little.


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Comments

  • Well all I can say is that I have had my Barclays account for longer than 15 years and they are offering 0.01% so Nationwide are definitely difference in that they are offering 250 as much interest

    250 x well done Nationwide you should be proud of yourself
  • bigadaj
    bigadaj Posts: 11,531 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper
    Well all I can say is that I have had my Barclays account for longer than 15 years and they are offering 0.01% so Nationwide are definitely difference in that they are offering 250 as much interest

    250 x well done Nationwide you should be proud of yourself
    With that grasp of maths you are the ideal nationwide customer. 0.25% is obviously a quarter of what is available elsewhere in the market, so no apparent benefits of loyalty, membership or lack of shareholders there. CEO pay has seemingly halved but still a huge amount for what isn't a complicated job of running a building society.
  • actually 0.25 / 1.15 is not a quarter! Perhaps we should take maths lessons together?
  • eskbanker
    eskbanker Posts: 35,289 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    bigadaj said:
    CEO pay has seemingly halved but still a huge amount for what isn't a complicated job of running a building society.
    What makes you think you know what's involved in running large multi-£billion companies in increasingly regulated industries?  As often pointed out by why-oh-whiners, Nationwide are now closer to being a bank than a building society, so belittling the role by implying that it's in some way comparable with running traditional smaller and simpler building societies isn't particularly tenable....
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 13 June 2020 am30 11:59AM

    Well that was laughable - I wonder if Marcus large increase in deposits and depositors is not a direct result of members general dissatisfaction with Nationwide



    Marcus is owned by the infamous Goldman Sachs. Possibly they came to the conclusion that retail deposits was a cheaper way of funding their investment bank operations. Now they are hitting regulatory limits. Not so keen on attacting new business. Whose benefit are they are working for? 
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