Nationwide - 'Mutual building society'?

Salinger

Been a member for over 30years. At the same time I opened account with Nationwide, I opened about a dozen other accounts with mutuals. I was and still am a carpetbagger. However, the treatment by Nationwide of their long standing loyal members is a disgrace. I have complained but got nowhere. However, I also withdrew the £50,000 odd I had in my ISA with them and moved it elsewhere, leaving £101 in just in case they do demutualise. The money they will lose from me withdrawing my funds is a lot more than paying me the £100.00, and I get over 1% more in interest in the account I transferred to. They pay the lowest rate of interest of other well kown mutuals, Yorkshire, Coventry and Newcatle and are always last to raise their rates. They manage to pay their CEO a very high salary though, or should I say she manages to pay hersef a very high salalry. Withdraw / transfer your funds, get a better rate and show them that loyalty works both ways. Or do nothing, your choice.

WillPS

Salinger said:

Been a member for over 30years. At the same time I opened account with Nationwide, I opened about a dozen other accounts with mutuals. I was and still am a carpetbagger. However, the treatment by Nationwide of their long standing loyal members is a disgrace. I have complained but got nowhere. However, I also withdrew the £50,000 odd I had in my ISA with them and moved it elsewhere, leaving £101 in just in case they do demutualise. The money they will lose from me withdrawing my funds is a lot more than paying me the £100.00, and I get over 1% more in interest in the account I transferred to. They pay the lowest rate of interest of other well kown mutuals, Yorkshire, Coventry and Newcatle and are always last to raise their rates. They manage to pay their CEO a very high salary though, or should I say she manages to pay hersef a very high salalry. Withdraw / transfer your funds, get a better rate and show them that loyalty works both ways. Or do nothing, your choice.

Or jump through a few hoops in the vague hope something similar might happen in future years - that's what I'm doing.