Fact sheet

Building society member engagement

There are a variety of ways that members can engage with their building society.

This includes joining member panels, attending and voting at the Annual General Meeting, or coming along to one of the many events held by building societies such as a 'meet the directors' event.

Member panels

There are two types of panels used by building societies. The first type of panel comprises a large group of members, and is now typically conducted online. This larger panel is typically open to all members who wish to take part and can therefore consist of thousands of participants.The second is a group comprised of a small number of members, perhaps no more than 15 people. Typically the group will meet in person on a regular basis, and a senior member of the society’s management team will often attend.

Scottish Building Society have an online member panel, with members being contacted four times a year to canvas views on product development, marketing communications and charitable initiatives. The surveys are kept short and relevant to their members and achieves an 80% response rate.

Questionnaires and surveys

As well as feedback given to staff, building societies also use surveys and questionnaires to obtain a deeper understanding of their members’ needs. This helps them shape all aspects of the organisation from top level strategy, testing products and services, to helping improve customer service levels.

Roadshows

Member roadshows or ‘Meet the Director’ sessions are popular events hosted by building societies where the public can meet the management team or the directors of the board, including the CEO. These events give members a chance to be updated on developments and have an opportunity to ask questions.

Yorkshire building society holds a regular 'Member Question Time'. Over 6,000 members are invited and provides them with opportunity to find out how the society is looking after their interests direct from senior management, and for the Society to find out what really matters to members.

Corporate governance

One of the most important ways members can exercise control of their society is by participating at the Annual General Meeting (AGM). At this meeting all eligible members are entitled to cast a vote to elect directors to the board and to vote on other resolutions. In 2019, 40.0% of votes were cast online, a significant increase from the 33.5% in 2018.

To understand more about your rights as a building society member, please download our guide

AGM voting results

The tables below show average, and individual society AGM voting results for 2019. Further information on voting results for each building society can be found by clicking the link to the the individual societies website.

Historical AGM data in excel format can be downloaded here

Society Votes cast as % of eligible members Annual Accounts Reappoint Auditors Directors' Remuneration Report Election of Directors (avg) Link to society website
Average 12.6% 98.6% 94.6% 91.8% 95.7% -
Bath 13.4% 98.5% 94.6% 89.9% 94.1%  
Beverley 13.3% 97.4% 92.9% 94.9% 89.4% Click here
Buckinghamshire 15.2% 97.2% 91.4% 83.9% 92.3% Click here
Cambridge 8.7% 98.8% 96.9% 94.5% 97.7% Click here
Chorley 15.2% 98.3% 94.4% 90.5% 95.2% Click here
Coventry 11.4% 99.2% 96.6% 92.5% 97.1% Click here
Cumberland 18.1% 99.8% 99.4% 98.3% 99.3% Click here
Darlington 11.4% 99.1% 97.4% 93.8% 97.3%  
Dudley 9.1% 98.4% 95.6% 92.6% 95.4% Click here
Earl Shilton 13.3% 98.2% 96.1% 89.1% 95.0% Click here
Ecology 19.8% 99.4% 87.4% 94.5% 97.2%  
Furness 14.9% 99.0% 90.6% 95.7% 95.9%  
Hanley Economic 18.2% 99.1% 96.4% 95.2% 97.6% Click here
Harpenden 16.1% 97.6% 93.2% 90.2% n/a  
Hinckley & Rugby 12.4% 98.8% 94.8% 92.2% 95.6% Click here
Ipswich 12.4% 98.9% 95.2% 92.6% 96.7% Click here
Leeds 13.5% 99.1% 96.3% 90.6% 96.5% Click here
Leek United 14.9% 99.0% 96.3% 94.4% 96.8% Click here
Loughborough 11.4% 97.8% 93.9% 88.6% 94.1% Click here
Manchester 13.9% 96.9% 93.3% 84.8% 91.3% Click here
Mansfield 15.3% 98.9% 94.4% 89.9% 95.0% Click here
Market Harborough 9.2% 97.8% 88.9% 93.7% 94.7% Click here
Marsden 16.3% 98.9% 96.9% 94.8% 97.6%  
Melton Mowbray 12.0% 98.5% 94.7% 91.5% 95.1% Click here
Monmouthshire n/k 98.7% 95.6% 91.8% 96.2%  
National Counties 14.0% 98.1% 91.0% 84.4% 94.0% Click here
Nationwide 7.0% 98.8% 96.6% 91.1% 96.2% Click here
Newbury 12.1% 99.4% 96.4% 92.3% 97.2% Click here
Newcastle 9.9% 99.0% 95.6% 91.5% 95.8% Click here
Nottingham 11.2% 98.9% 96.6% 91.5% 96.4% Click here
Penrith 11.4% 98.3% 95.4% 94.9% 97.3% Click here
Principality 8.8% 98.6% 96.2% 91.4% 96.8% Click here
Progressive 9.5% 99.6% 98.3% 95.7% 98.1%  
Saffron 6.9% 97.8% 93.0% 87.1% 94.2%  
Scottish 11.9% 98.4% 93.2% 87.6% 93.8% Click here
Skipton 9.8% 99.1% 96.6% 90.8% 96.1% Click here
Stafford Railway            
Swansea 16.3% 98.8% 95.3% 95.0% 97.7% Click here
Teachers 14.4% 96.6% 81.8% 89.8% 89.7%  
Tipton & Coseley 14.5% 99.2% 97.2% 95.8% 97.8% Click here
Vernon 9.4% 99.3% 94.7% 92.9% 96.4%  
West Bromwich 8.4% 99.0% 95.6% 91.0% 96.2% Click here
Yorkshire 10.2% 99.1% 96.0% 91.9% 96.5% Click here


This factsheet takes examples from the 2015 BSA report Engaging Conversations.

Contact

Joseph Thompson

Business Economist

Tel: 0207 520 5928 joseph.thompson@bsa.org.uk