Press Release 73 10.11.99
Storyline: 50 days to find 50 members to Save Bradford & Bingley Building Society SOBS today launches it’s bid to save the mutual status of Bradford & Bingley Building Society. “We intend to deliver a pre-emptive knockout blow for mutuality through the means of 7 carefully worded resolutions -intended to protect borrowers, savers and staff of the society. “Protect these 3 elements of any society and you safeguard it’s future” says Bob Goodall. We hope to have these safeguards in place before the Special General Meeting (SGM) takes place to vote on conversion. -It is scheduled for the Summer of 2000. We will need to recruit 50 eligible members to support 7 resolutions to be put before the entire membership at the earlier AGM of Spring 2000. These resolutions -with the necessary support will have to submitted to the society by 31.12. 99 Bob Goodall is confident! He says “it should be a doddle! “We needed 100 nominations and £5,000 in cash to call a SGM at Birmingham Midshires. We achieved both! In fact 220 Midshires members supported the call for a SGM. With Bradford & Bingley we need only 50 supporters from the second largest society (3 million members) and unlike a SGM -its free so we should be able to raise this level of support in 50 days.”
Strategy 1) SOBS will make full use of local media. 2) We will sign people up outside local B & B branches Bob Goodall will do so at his local St Albans branch. It is legal so long as you not obstruct the highway. 3) We will focus particular effort in areas where the proposed conversion has already cost people their jobs -275 in Leamington Spa -90 in New Barnet -Where 70 agencies have been closed Three areas where we believe ex B & B employees will be more than pleased to support us. 4) And we will work in the B & B heartland where considerable job losses are likely to occur in the future unless conversion is stopped. Note to the Editor a) Members of Bradford & Bingley wishing to be sent a copy of the resolutions should telephone Bob Goodall on 01727 847 370 .This number can be published. b) Picture Editors wishing to llustrate the story can obtain recent, professionally taken photographs of Bob Goodall outside his local Bradford & Bingley building society wearing a “better off as a building society” T shirt from MoneyMarketing magazine. Please telephone the office of the Editor Stephen McDowell: tel 0171 970 4311 Press Release by Bob Goodall Co-ordinator “Save Our Building Societies” campaign tel 01727 847 370 (24hrs) Summary of the Bradford & Bingley resolutions We believe that given the chance a majority of members will support them 1) Keep the society a mutual! 2) Nothing less than the full price must be paid for the society if its status changes. No short-changing the members. 3) Automatic right of opt out for all mortgage customers if the society converts- without charge. 4) No increase in mortgage interest rates for profit for 10 years if the society converts. 5) No decrease in savings interest rates for profit for 10 years if the society converts. 6) No redundancies or loss of employment opportunities for profit for 20 years if the society converts. 7) If any of the above are passed they are binding for 3 years from the date of the vote. No other vote can overturn them.