Service update - due to planned essential maintenance our Online Service will be unavailable on Friday 28 January from 18:00 until Saturday 29 January 12:00.
Following the Bank of England’s decision to raise the Bank Rate by 0.15% to 0.25% in December 2021, Windfall Bond and Tracker Savings Bond rates increased by 0.15% from 1 January 2022. Tracker mortgages changed from 25 January and we have written to customers individually with revised payment details where the new rate exceeds the minimum rate (or ‘floor’) already applying to their mortgage. We will be considering our other savings and our variable mortgage rates after the Bank of England MPC meeting on 3 February. (Notice updated 19/01/22)
- Please note that the Premium Saver (5) has now been withdrawn from sale.
If you have opened an account, you may add funds until 3pm, 7 February 2022, after this no additions will be allowed.
Society Rules 2021
(effective from 30 September 2021)
The society’s rules are our main constitutional document and set out the principles and basis on which the society is governed including the requirements for and how members’ meetings are held.
Below is a summary of the changes that the new rules with include;
- to allow members’ meetings to be held electronically and/or in more than one physical location;
- to clarify the procedures for adjourned meetings;
- to clarify the quorum requirements for meetings;
- to improve the requirements regarding giving notice of meetings in the event of disruption to postal services; and
- to reflect the requirements of The Mental Health (Discrimination) Act 2013.
There are also some re-numbering and minor typographical changes to make to the rules.
Why have we changed the rules on how members’ meetings are held?
In 2020, the COVID-19 pandemic and subsequent strict lockdown restrictions made the holding of Annual General Meetings challenging. The last minute closure of meeting venues, rules around social distancing and movement restrictions meant
that participation was severely limited. There is a clear member benefit in updating the rules of the society to allow member meetings to be held electronically or at more than one venue (or by a combination of both physical attendance and using
an electronic platform), so that all members who wish to do so can fully participate in the meeting whilst helping to make sure that we keep our members and employees safe. The Rules have been updated to allow the Board to arrange for members to attend
a meeting at one or more venues and/or using an electronic platform if the Board decides it would be safe and appropriate.
Why have we changed the rules relating to adjourned meetings?
The COVID-19 disruptions last year also focused our attention on the procedures in the event meetings are disrupted and need to be adjourned. The rules have been updated to clarify the procedure. This includes the notice requirements to inform members of the time, venue and date of the new meeting.
Why have we changed the rules regarding quorum at meetings?
To clarify the rules regarding quorum at adjourned meetings, by stating that there must be at least two members present at the meeting.
Why have we changed the rules regarding the removal of directors?
To amend the rules regarding the removal of directors to reflect the requirements of The Mental Health (Discrimination) Act 2013.
Why have we changed the rules regarding disruption to the postal service?
To strengthen the rules regarding when notice is deemed to have been given to members in the event of disruption to the postal service. Measures include ensuring notice is published on the society’ website in addition to either prominently displaying the notice at the societies head office and branches or publishing the notice in two leading newspapers.
Download a copy of our new Society Rules 2021 booklet below.