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Governance and people


Ecology Building Society is a mutual organisation controlled by its members. Its members are its customers, both savers and borrowers. If you are an individual aged 18 or over on the date of voting, and your account balance at the end of the previous financial year (or other dates as specified in the Rules) was £100 or more, you will be able to vote as specified in the Rules, assuming you have not ceased to hold shares between the dates specified. Every voting member has one vote, regardless of the size of their investment.

The articles of the Society contain a requirement “to promote…ecological policies designed to promote or enhance the environment in accordance with the principles of sustainable development”. Sustainable development is defined as “improving the quality of human life while living within the carrying capacity of supporting ecosystems”.

In 2014 the Society completed its first full year as a member of the Global Alliance for Banking on Values, which brings together the leading financial institutions from across the globe who are pursuing a common agenda of banking for sustainability.

The society has added Ethics to the responsibility of it's Risk, Audit and Compliance committee, and has embarked on developing a framework for monitoring and managing our standards of conduct.

Member Participation

The Society believes that the participation of its members is vital in steering its direction and building a community of people working towards a more sustainable future. Through its newsletter, annual meetings and customer service, Ecology aims to keep members involved in all aspects of its work. Ecology encourages lively debate around its aims and policies, as well as contact with staff at all levels of the organisation.

Last AGM

26th April 2014

How many members voted at the last AGM?

15.93% (2013 18.2%).

As voting was down on previous years, the society are looking into methods to encourage member to exercise their vote.



The eight Directors of the Society include the Chief Executive, Finance Director and six Non-Executive Directors.

The Directors set Ecology's overall strategy and direction, and make sure the business has the right resources in place to achieve its mission.

Senior management team

Non-executive directors

Salary ratio

The ratio of the salary of the highest paid to the lowest paid employee. Read more

4.4 to 1

The Society has a long established policy that no basic salary will exceed a maximum of five times the lowest full grade available.

Directors remunerations

In 2014, the Chief Executive and the Finance Director were paid £85,000 (2013 £84,000) and £75,000 (2013 £73,000) respectively. The sums include profit related pay and pensions.

Non-executive directors were paid an annual fee of between £8,000 and £14,000 each (2013 £9,000 to £14,000). Non-executive directors do not receive any pension, profit related pay or other taxable benefits.

Total remuneration paid to directors amounted to £234,000 (2013 £222,000).


Female directors: 38%

Employee Satisfaction

The Society makes contributions to a group personal pension for each member of staff, including executive directors, of 8% of basic salary. A death in service scheme is operated, which pays a lump sum of four times basic salary.

A performance related pay scheme was introduced on 1st January 2012 replacing the previous profit related pay scheme. These arrangements apply equally to all qualifying staff, with no enhanced arrangements for senior management. Performance related payments are made from gross profit using the following formula: 0% where annual profit is less than £150,000, 4% for annual profit up to £300,000 and 2% for annual profit over £300,000.

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