Give Nationwide Members a Say on the purchase of Virgin Money.

Welcome to the website for the campaign calling for a member vote on the proposed acquisition of Virgin Money by Nationwide building society.

If you are a Nationwide customer, you are a member, and you can vote in advance of the AGM on Wed 17th July. We urge all members to vote AGAINST all resolutions and the re-election of the board in protest.

5,000 people have now signed the petition – please join us!

The Nationwide board is rushing through a deal for £2.9 billion to buy Virgin Money – a poorly-rated bank, part-owned by Richard Branson who could pocket £650M+denying Nationwide customers to vote on the deal (who are the members and owners of the building society after all). The Nationwide board is choosing to circumvent what’s expected under law using a “sneaky” technicality, and acting against the democratic ethos of a mutual society

The proposed deal is a “reverse Robin Hood” as it would effectively take from the poor (Nationwide members in the UK) to give to the rich (Virgin Money shareholders – most of whom are Australian). 

Nationwide customers may be worse off financially, and Nationwide would be less protected in a downturn, if this deal goes ahead. Customers are already paying higher rates to borrow, and getting a lower return on the their savings. Nationwide could use reserves earmarked for this acquisition to directly benefit its customers instead during a cost of living crisis, or hold it in reserve as loss-absorbing capital. 

If someone was asking you to rush through a transaction, that sounded too good to be true, and without any mention of the costs or the risks – wouldn’t you be suspicious? 

Sign the petition today and join the campaign to Give Nationwide Members a Say on the Purchase of Virgin Money.

6 ways you can support the campaign that take just 5 minutes

Please consider taking action to emphasise and amplify our concerns regarding the proposed takeover of Virgin Money by the Nationwide. We have provided templates for to use/adapt – so it only take a few minutes of your time.

MOVE
YOUR
MONEY
ELSEWHERE

COMPLAIN TO
NATIONWIDE
& THE
OMBUDSMAN

RAISE A
CONCERN
WITH THE
FCA

WRITE
TO
YOUR
MP

SIGN THE
PETITION
ON
CHANGE.ORG

JOIN
THE
FACEBOOK
GROUP

What’s the latest news on the campaign?

Read more about what’s next for the campaign.

Or read our most recent press releases, press coverage of the campaign, and other news about the proposed deal.

FAQs, Articles and more info

Find all the content from the campaign.

Frequently Asked Questions (FAQs)

The six questions and answers to correct common misunderstandings.

About the campaign

Learn how the campaign started, and what’s happened since.

Why the law suggests a vote *IS* needed

Read more about Section 92A of the Building Societies Act (1986)

Financially Stronger? No. WEAKER.

Why Nationwide will be financially weaker if the proposed takeover goes ahead

Press Coverage

We’re keeping a record of all press regarding the campaign, and key news items regarding the takeover. If you spot an article we don’t have listed – please contact us.

5,000+

PETITION
SIGNATORIES

500+

SGM
REQUESTS

250+

FACEBOOK
SUPPORTERS

1

CO-ORDINATED
CAMPAIGN

Supporters comments

The Change.org comments page for the petition gives you a flavour for what real members think about the proposed deal. Our Facebook group is a great way to engage adn interact with other members, share perspectives, suggest new directions for the campaign and keep up-to-date.

I want to see a clearer explanation of why the proposed spending will benefit members more than using the money in other ways, such as better rates or improved payment to members

Frederick Cantrell

Richmond (5th May)

A building society should allow its members to vote on such a large and expensive acquistion. I look forward to seeing the rationale for this transaction, and a case made for risk v potential benefits.

Deborah Robinson

Stockport (3rd May)

The Campaign Team

Mikael
Armstrong

Campaign leader

Jay
Smith

Facebook admin

Volunteers
Welcome

Can you help?

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Want to get in touch?

Please don’t hesitate to contact us on Facebook, or via email.

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