Members give backing to Skipton Building Society after successful 2014

MEMBERS of Skipton Building Society voted overwhelmingly in favour of the group’s resolutions at last night’s annual general meeting, although support for directors’ remuneration was slightly less fulsome.
David Cutter addresses members at the Skipton AGM last night. Picture: Danny Payne PhotographyDavid Cutter addresses members at the Skipton AGM last night. Picture: Danny Payne Photography
David Cutter addresses members at the Skipton AGM last night. Picture: Danny Payne Photography

Approval rates were in the mid-90s for all resolutions bar remuneration, which achieved 88.87 per cent.

David Cutter, the chief executive, achieved a total pay package of £699,000 in 2014.

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The package includes £408,000 salary, up 2.5 per cent from 2013, and a bonus of £195,000, equating to 48 per cent of standard pay.

Mr Cutter will receive £64,000 in bonus payments from previous years in 2014.

The former Welsh international hockey player led a turnaround in the mutual’s fortunes in 2014, after several difficult years.

Profits were up 75 per cent to almost £182m, while mortgage and savings balances both increased by over 11 per cent.

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Mr Cutter said: “Without a doubt Skipton had a very strong year in 2014, but none of this would be possible without the huge efforts of all our people, and I would like to take this opportunity to thank them, on behalf the society’s members.

“They do strive to deliver that human touch, and I have received well over 100 personalised letters and emails during the year from customers praising the professional and excellent service they have received.

“I would like to thank all of our people for their efforts and dedication, which are greatly appreciated.”