The official site of the Prime Minister's Office.
E-Petitions.
We the undersigned petition the Prime Minister to develop policy which supports Mutual Societies and Building Societies and puts people, not profit at the heart of finance. More details
Submitted by Conall McDevitt – Deadline to sign up by: 06 April 2009 – Signatures: 77
More details from petition creator
A building society is a mutual organisation. This means that instead of having shareholders, it has members who collectively own the business and are also its customers. The main examples of this type of organisation in the UK are co-operative societies, mutual insurance companies and building societies. Members have the right to vote for directors regardless of how much or how little money they have with the society.
Each building society invests its profit back into the society’s business. Unlike banks, mutuals do not pay dividends. In other words - your money works for you, not the City. This enables the building society to offer competitive rates of interest on both savings and mortgages. It sets the rates it pays savers at just less than the rate charged to borrowers. This margin gives the society a profit. Many analysists believe this offers customers a much better deal.
Given a crisis of confidence is at the heart of the current crisis, we are calling on the Prime Minister to actively support a trustworthy system of building and mutual societies which can support home owners and encourage a viable property market.
Current signatories
Conall McDevitt, the Petition Creator, joined by:
- Claire Blue
- Yvonne Beazley-Long
- Andrew Muir
- Liam McNulty
- Patrick Corrigan
- Stuart Noble
- Katy Radford
- Stephen McGrath
- Jenny Muir
- Aisling Twomey
- Frances McCandless
- katherine press
- Robin Wilson
- Jonathan Traynor
- Peter Armstrong
- noeleen higgins
- Joanne Murphy
- Pat Ramsey MLA
- Nichola Mallon
- George Dorrian
- Brid Rodgers
- Peter Gibson
- Kate Gilby
- Adrian McMenamin
- Nick Rogers
- Gerry Ruddy
- Pauline Card
- John Barry
- Mary Mc Mahon
- Mr.Peter O Reilly
- Rob Rowlands
- Anne Deighan
- Garth Earls
- Mark Langhammer
- Donal Lyons
- David Morrison
- Andrew McCracken
- Pat Muldowney
- Dave Ash
- Liam Gallagher
- Patrick Stephens
- Mr Partis (petitions.pm.gov.uk/tombaker/)
- Mark Bennett
- Tom Sullivan
- Nat Queen
- Adam McKenna
- Rodney Burns
- Russell Rowley
- Ann Barrett
- Paul Haslam
- Angela Watson
- Hannah Matbouli
- David Jackson
- Ciaran McAteer
- Claire Gallagher
- Colm McGinn
- Brian Tracey
- Seán McGouran
- Stephen Devlin
- Peter Whitelegg
- Peter Brooke
- Elaine McLaren
- Kevin Smyth
- catherine winch
- Thomas Richard Doherty
- Alison Winch
- Joe Mitchell
- Robert Shiel
- Russell Greig
- Fergus Quinn
- Amanda Jones
- Kimberly McNair
- shelley leggett
- Tom Griffin
- Gill Stoker
- Mike Beatham
