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Campaign Activities

I spoke at the INBS AGM on 27th April 2002 and I called on the Board members to take steps to initiate the demutualisation of the society within 12 months. The INBS Board announced some positive developments at the AGM (disclosure of mortgage interest rates to borrowers, disclosure of directors salaries from next year). However, these are really just the first short steps on a long road for INBS.

At the moment, I’m concentrating on gathering names/contact details for INBS members who will support a demutualisation campaign. I need support of 20 voting members to nominate a new director or 25 voting members to propose a motion at the next AGM. I will be ready to push ahead with both of these actions next year, but I’d really like to move a bit faster than that.

According to Section 45 of the Building Societies Act 1989, I can petition the Central Bank to call a ‘special meeting’ of INBS members to discuss demutualisation and other matters if I have support from 200 voting members. I haven’t yet reached the ‘200’ milestone – the number of supporters is growing steadily, but I need more & more supporters If you or your family/friends/colleagues are prepared to support this campaign, please check out the ‘How can you help’ section of this website.