Annual General Meeting Financials

Annual General Meeting

Financials

Annual General Meeting 2020

Our 150th Annual General Meeting took place behind closed doors on Thursday 30 April 2020 at 2pm. This was due to Coronavirus (Covid-19) and changes to government rules regarding gatherings.

We asked members ahead of the meeting to send in any questions they had to the Board of Directors, please see below the questions sent in with responses:

 

Q. When will savers’ rates improve?

A. The Bank of England have held rates at low levels ever since the 2008 financial crisis and recently cut them further to just 0.1%.

MHBS has always protected savers from such low rates and took steps to keep rates at very competitive levels. We value savers and attracted £65m net in 2019.

 

Q. Will branches stay open?

A. The COVID-19 situation has meant we have reduced branch opening hours and some services in branch. We are monitoring the developments of COVID-19, and are taking steps to protect customers and team members from the health impact. As long as this continues, we have no plans to close any branches during the lockdown period.

In the long term we see branches as an important part of our service and have no plans to reduce our network even as more payments move online.

 

Q. You said you would mark the Society’s 150th  year – what about that? 

A. The Coronavirus situation has meant that we can’t hold events to mark our big year – however we hope to come back to this in 2021 – and share the celebration with members and staff.

 

The AGM is not your only opportunity to engage with our Directors, so please do send in any questions you have to asktheboard@mhbs.co.uk.  All questions sent received will be answered and if you agree we will post your question and their reply on this website.