Tipton and Coseley customers to vote online at AGM

Mar 25 2009 by Tom Scotney, Birmingham Post

The Tipton and Coseley Building Society is taking its meetings on to the web, with members able to cast their votes at the upcoming AGM online for the first time in the society’s history.

The building society has seen a turbulent year as its profits halved in 2008. The society said trading had been good, especially compared with the problems in the banking sector, but that the Tipton had been unfairly hit by an “unfair and disproportionate” levy forcing it to pay for the mistakes of failed banks.

The AGM on April 21 will be a chance for members to look at the group’s financial fortunes over the last year, give them the opportunity to re-elect the Tipton’s directors and auditors and vote on certain resolutions.

Historically, members have posted or delivered their voting slips however, but the Tipton said it hoped the launch of the online service will encourage more members to make their views known.

Last year more than 4,500 members voted and Tipton chief executive Chris Martin said he hoped members would turn out in strong numbers once again. To encourage them to vote he has pledged to donate 15 pence per vote to its Charitable Foundation and will double it to 30 pence if 4,500 are received again this year.

Votes that are received by post or in branch will see 10 pence per vote donated to its Charitable Foundation, doubling to 20 pence per vote if the target is achieved.

Mr Martin said: “The launch of the online service should help to make it easier for members to cast their vote.”

Members eligible to vote will be provided with two security codes for use on the Tipton’s website.