James4Nationwide

Elect James Sherwin-Smith to represent Nationwide building society members

Why change is needed

Nationwide is the largest mutual building society in the UK – it has a large presence on the British High St given its commitment to keeping branches open, and provides more than 1 in every 10 mortgages in the UK.

What makes a mutual (or co-operative) organisation distinct is that it is owned by its customers, and not shareholders.

A mutual organisation should therefore be focused on delivering the best outcomes for its members – who are both the customers and owners.

However, for this model to work members need to be part of the governance process, and their voices heard across the organisation.

Currently the board of Nationwide is made up entirely of directors who were appointed by fellow board members, and not nominated by the membership.

Nationwide is set to go through a very challenging time given its proposed acquisition of Virgin Money (subject to regulatory approval) – and so it is critical members’ voices are represented at the board.

This is why James is standing as a board candidate – and seeking member nominations to be included on the ballot for election at the next opportunity.

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