I enjoyed talking to Jeremy McKeown on his #podcast “In The Company Of Mavericks” (@in_mavericks) out today.
We covered
- what it takes to get on the ballot of a #BuildingSociety as a member nominated candidate for director
- what motivated me to give up a huge amount of my time to get this far
- why #mutual societies matter
- what might happen next
You can listen to the pod on Spotify, Apple etc. or online via this link:
https://t.co/ZiJrYa4tKJ
If you’re interested in the stories behind the headlines in #FinancialServices and personal #investing topics, do check out Jeremy’s Substack “#Hypernormal Times”:
https://t.co/PyCmRPJ4fs
My thanks to @PatrickTooher for including my question re @AskNationwide’s #FairerShare policy in today’s @DailyMail on Sunday:
https://t.co/PxH2NtfkpG
“James Sherwin-Smith, who hopes to become Nationwide's first director representing members in over two decades, questioned why only a minority of them received payouts.
'Is there a better use or more equitable distribution of members' capital?' He asked.
It’s interesting to note that:
1) following the acquisition of @VirginMoney, #Nationwide paid a one-off Big Thank You of £50 to ~12million (ie 3/4 of Members). But for the last 3 years, it has decided to share profits with 1/4 of Members instead.
2) in 2007, Members were asked to vote on whether to donate >1% of profits to #charity each year. No vote was offered re the Fairer Share.
3) less than 700k Members voted at the last #AGM.
My most recent post on this topic:
https://t.co/bFgWYWERPT
My thanks to @NilsPratley writing in @guardian for summarising the key decisions that the Board of @AskNationwide will make before voting forms are distributed to 9.1 million members next month.
Read more here:
https://t.co/J8MLjeJ0b1
#mutual#membership#democracy