More concerns raised in Parliament about building society governance and member engagement
Following the publication of Navendu Mishra MP’s letter to the Chancellor, raising “emerging governance issues in the building society sector” on 1st May 2026, written questions have also been raised in the House of Commons:
- 1st June 2026 – again by Navendu Mishra MP (Labour, Stockport) – see written questions and answer regarding virtual only AGMs, member nominated directors, and bing votes on executive pay.
- 24th June 2026 – this time by Daisy Cooper MP (Deputy Leader of the Liberal Democrats, Treasury spokesperson and MP for St Albans) – see written question and answer relating to electronic voting mechanisms and board recommendations.
Yesterday (2nd July 2026), Navendu Mishra MP pressed for Government time to debate the matter, asking an oral question of the Leader of the House, drawing further attention to the issues, and to Nationwide in particular, highlighting the importance of meaningful democratic enagement for members, virtual only AGMs, the lack of member nominated directors – and the ‘Quick vote’ in particular.
You can watch a short video of the exchange on YouTube, Parliament TV, and on Facebook.
The official record on Hansard of the exchange reads as per the below.
Navendu Mishra MP (Stockport, Labour) asked:
Vernon Building Society, which was established in 1924, offers financial services to people in Stockport and across Greater Manchester. It is a true mutual, owned by members, not shareholders. However, as the building society sector grows, there are concerns about meaningful democratic engagement for members. In particular, in Nationwide, which is the largest building society in the world, concerns have been raised about a virtual-only annual general meeting, a lack of member-nominated directors and the quick vote mechanism. When members are owners, they must have a meaningful voice in how the organisation is run and governed. As such, may I ask the Leader of the House for a debate in Government time on the Building Societies Act 1986 and the need for a meaningful democratic voice for the membership?
Navendu Mishra MP (Stockport, Labour)
The Leader of the House, Sir Alan Campbell, responded:
My Honourable Friend raises some interesting concerns, particularly around transparency, and he rightly points out that building societies are a vital and growing part of our economy. I suggest that he should seek an Adjournment debate or a Westminster Hall debate so that he can hear directly from a Minister how his concerns might be addressed.
Sir Alan Campbell MP (Leader of the House)