Nationwide AGM

Contador38

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.

happybagger

Nothing ever jolts a building society board member, and certainly 8% against merely means they claim to have 92% approval rating!

Nationwide - 'Proud to be different' by offering 0.25 for 15 years 'Loyalty'

harsh_but_fair

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

ColdIron

Cough, 0.25 / 0.01 = 25

bigadaj

harsh_but_fair said:

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.

harsh_but_fair

actually 0.25 / 1.15 is not a quarter! Perhaps we should take maths lessons together?

castle96

I vote against everything, every year !

eskbanker

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

Contador38 said:

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? 

veryintrigued

I'd be asking how much Nationwide pay the makers of their TV advertising campaign.

In a sea of dross bank/building society adverts they take the award for the worst.

wiseonesomeofthetime

castle96 said:

I vote against everything, every year !

I did exactly this, this year, as soon as I received my email.