The Cambridge Building Society hosts AGM

17 April 2018 • Corporate

The Cambridge Building Society hosted its 168th AGM last night at Arthur Rank Hospice Charity.

Those attending heard from Chairman Jonathan Spence who spoke about the Society’s promise to ensure they have a business that thrives - delivering real benefits for their current and future members, whilst maintaining their commitment to the community.

He said “Back in 1850 a group of people came together to help each other overcome a challenge and established Cambridge Building Society – in 2018 we want to demonstrate our continuing commitment to overcome challenges and help people to help themselves achieve a safe and secure home.”

“The Society has set aside a budget of at least £½ million over a three year period to support initiatives that will visibly demonstrate our commitment to this Cause. Thinking in this area is already well advanced and we will be going public on our first initiative during the course of the next 6 months.”

“Following a series of communication events with all of our staff there is much excitement around how we can develop Cambridge Building Society to fulfil our Mission, deliver a financially strong business and ensure real tangible benefits for local people.”

Members voted in favour of the following:

To receive the Directors’ Report, the Annual Accounts, the Annual Business Statement and the Auditor’s Report for the year ended 31st December 2017.

• To approve the Directors’ Remuneration Report.
• To approve the re-appointment of KPMG LLP as Auditor to the Society.
• A special resolution amendment to the Memorandum of the Society.

Francis Burkitt, Stephen Jack, Andrew Jones, Andrew Morley, Jonathan Spence and Victoria Stubbs were re-elected as Directors.

There were several questions from members present around the topics of the financial accounts, diversity and inclusion within the Society and future projects to help First Time Buyers.

The Chief Executive, Stephen Mitcham discussed the policies currently in place relating to diversity and inclusion within the Society, detailing current statistics relating to gender, pay and nationality of current employees, as well as acknowledging that there was more work to be done to improve these figures and confirming how the Society plans to do this.

As part of The Cambridge’s commitment to the community, a donation was made for every vote cast as part of the AGM to the charities, Tom’s Trust and CLIC Sargent. Fundraising Ambassadors Deborah Whiteley and Emma Taylor were at the AGM to receive a cheque for £1,230.00 each on behalf of their respective charities.

On receipt of the donation Deborah thanked The Cambridge and explained that it would enhance the services Tom’s Trust offers to children with brain tumours. “The support of such a prestigious organisation and local business means the world to us – thank you to all who voted and chose us to be part of it!”

Additionally, Emma Taylor also gave thanks for the donation and detailed how the funds would be used by CLIC Sargent to help support families limit the damage cancer causes which go beyond health, She said “Having a family member with cancer costs on average £600 extra a month and we help support families apply for grants and get the help they need - so they can concentrate on getting better”

This year voting packs were sent out digitally or via post, depending on the customer’s preference. Digital customers received an email which included a link to the portal and a prepopulated code for logging in to place their vote. This created an easier journey for voters and gave them more choice on their method of voting, in addition to being more cost efficient and environmentally friendly.