Tan the man

By JO THORNHILL
Updated: 19:00 EST, 11 November 2001

TIM Tanner is preparing to resume his struggle against the bastion of mutuality, Nationwide. A member of 20 building societies and founder of campaign group Mutual Members, Tanner is seeking election to the Nationwide board.

He's also seeking a place on the board of another old adversary, Portman - and is widening his attack to take in Coventry too.

The 44-year old, a manager of a Basingstoke-based manufacturing company, says he isn't in it for the money - the windfalls once commonplace when mutuals converted. He's fighting for democracy and accountability and he's also upset by boardroom salaries.

'There is a huge injustice in the way that the democratic process is subverted by directors of these three societies,' he says.

Tanner clashed with Nationwide and Portman earlier this year. He sought - unsuccessfully - for policy and procedural changes at both mutuals. Now he is setting out his stall for the mutuals' annual general meetings scheduled for next summer.

He will need support from 250 Nationwide members to run as a candidate for the mutual's board. Tanner will need backing from 500 members from both Portman and Coventry for his boardroom assaults there.

Tanner also intends to submit resolutions to the Nationwide and Portman - mainly targeting salaries and accountability - at their annual meetings next year. But he will need the backing of 500 qualifying members for this too.

His early challenge comes just months after Nationwide saw off arch carpet-bagger Andrew Muir. Also seeking demutualisation, Muir secured just 400,000 votes when he sought election to the Nationwide board - fewer than when he stood in 1998. Six million members were eligible to vote.

At the time of Muir's failure Tanner said: 'We don't believe Nationwide should convert to a bank but we do believe it should behave much more democratically to justify its mutual status.'

What is mutuality?

Muir down but not out

Mutual Members