Your Pay Is Obscene Hanley Chief Is Told ; Angry Scenes Mark the Start of a Torrid Season of Meetings for Society Bosses

Summary

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IT is the same story for many of the UK's smaller building societies. For years, Hanley Economic Building Society has served the financial interests of its members with distinction, building a loyal customer base in its heartland and playing a key role in local communities hit badly by the recession.

But like many other societies, Hanley is paying the price for trying to be more than just a local player.

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Extract

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Your Pay Is Obscene Hanley Chief Is Told ; Angry Scenes Mark the Start of a Torrid Season of Meetings for Society Bosses

A decision taken before the credit crunch to become involved in property development finance in parts of the country it doesn't normally operate in has proved costly. And given that it is a mutual owned by its members, it has also...

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