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Coronavirus - Help us to help you

We are working hard to maintain the best service we can for you. As you can imagine our telephone lines are exceptionally busy at the moment. So we are asking for your help too.

In the interests of the health of both our customers and our staff, please avoid visiting our branches unless necessary. Please telephone your local branch direct if you have any queries or to register to use our online services.

To reduce the risk to our branch staff and customers, from 1st April, branch opening hours will temporarily be reduced to 9am – 12pm Monday to Friday and closed on Saturdays.

We have also temporarily reduced our telephone opening hours at Principal Office to 9am – 3.30pm Monday to Friday and closed on Saturdays.

We apologise for any inconvenience this may cause.

EMAIL SCAM EXPLOITING JOB RETENTION SCHEME

Please beware of the following phishing email scam – National Trading Standards have passed on an alert about a phishing scam based on impersonating correspondence from the Government’s Job Retention Scheme.

  • The scam involves phishing emails to companies about the scheme
  • The emails pretend to be from Jim Harra, First Permanent Secretary and Chief Executive of HMRC
  • The sender email address used is  no-reply@ncryptedprojects.com
  • the emails use Official HMRC branding, and the message asks for the bank details of the recipient.

An example message is provided below – the typos are the fraudsters’ own work:

“Dear customer, We wrote to you last week to help you prepare to make a claim through the Coronavirus Job Retention Scheme. We are now writing to tell you how to access the Covid-19 relief. You will need to tell your us which UK bank account you want the grant to be paid into, in order to ensure funds are paid as quickly as possible to you.”

NO EXCUSE FOR DOMESTIC ABUSE

According to data from the Home Office and charities supporting victims, the pressures of living under COVID lock-down have caused a rapid increase in cases of domestic abuse. Abuse can take the form of coercive control, deliberate neglect and verbal or physical aggression. It often involves economic abuse (coercive control of the victim’s finances to steal their money and / or deny them the right to spend it).  We’re supporting the Government’s campaign to raise awareness about help for victims of domestic abuse.  You can find further guidance on how to get help here: https://www.gov.uk/guidance/domestic-abuse-how-to-get-help

COVID-19 – ZOOM SCAM

Scammers are sending emails posing as the Zoom download manager asking the recipient to complete their download by clicking “next”, which releases malware when clicked. The only safe way to set up Zoom for personal use is to go on the Zoom official website and download it yourself.

COVID-19 – TEXT SCAM

Please beware of a new text scam purporting to be from the Government which informs the recipient via a text that they have been issued a £250 fine for leaving the house during the lock-down as the Government have been tracking their movements using their phone. The recipient is told that if they don’t pay immediately they will incur a heavier fine and encouraged to click on a link to make the payment which may deliver malware as well as taking the payment and their account details.

COVID-19 – FRAUDULENT EMAILS

During the coronavirus outbreak, many companies and organisations have sent emails containing COVID19 updates to their customers to make them aware of their current response and status. As these types of emails have now become increasingly frequent, criminals have started to use this familiarity to their advantage. These fraudulent emails, framed as a corporate COVID-19 response, contain malicious attachments and are targeting individual consumers and companies alike…

Emails may also be disguised as coming from a hospital that inform the recipient they may have come in contact with an individual who tested positive for COVID-19. The email instructs the recipient to download an attached Excel file, complete a form, and bring it to the nearest hospital. Once the attachment is downloaded, the malware has been activated and the attackers may be able to access your data.

Please keep in mind that typically, legitimate COVID-19 response emails have a message only in the body of the email and do not contain attachments.

COVID-19 – PROTECT YOURSELF FROM FRAUD

There is some evidence that criminals are attempting to use the current COVID-19 situation as an exploitation opportunity, so please be extra vigilant before clicking on an email about the coronavirus outbreak. If a claim sounds too good to be true, it probably is.

Criminals use exceptional circumstances like the current situation as a chance to pose as employees of a genuine organisation such as building society, bank or police and target you for fraud scams. They may claim they are dealing with coronavirus-related issues that require you to respond by paying money or providing personal information that will allow them to access your account. They often use pressure tactics to stop you thinking about want they want you do for them.

To help you stay protected, here are some things that we will never do:

  • Ask you to disclose your PIN number or other passwords for your accounts
  • Encourage you to move funds from your own account into a different “safe” account
  • Charge up-front fees for repayment holidays
  • Make home visits to collect mortgage arrears on your doorstep
  • Demand an immediate payment of mortgage arrears over the phone
  • Demand payment of mortgage arrears via email providing you with a link through which to make payments.

Please remain vigilant.

Stop – Take a moment to think.
Challenge – Don’t be afraid to ask questions or to say “No” and end the conversation.
Protect – Contact the building society or the bank from which you have made a payment immediately if you think that you have been the victim of fraud.

Coronavirus Update

We understand that some customers may be worried about the effect that contracting the Coronavirus (COVID-19) could have on their finances, for example due to a drop in income as a result of contracting the virus or because of the measures imposed to stop it spreading. If you have any concerns about how this could affect you and your mortgage, please click here to read the leaflet produced by the Building Societies Association and National Debtline or please get in touch on 01664 414141.

Please click here to see a list of Frequently Asked Questions for our members.

The Melton Building Society

Call us on 01664 414141 between 9am and 6pm Monday to Friday and 9am and 12pm on Saturdays
 

Board of Directors

TERMS OF REFERENCE

Download information as a PDF document.

Composition: The Board currently comprises 6 Non-Executive Directors and 2 Executive Directors elected by the Members.  The Board shall elect one of the Non-Executive Directors to be chair and another to be vice-chair.

Meetings: The Board shall meet for the dispatch of business as often as it shall find necessary.  At present this is monthly with the exception of August.

Quorum: Four members of the Board at a duly convened meeting shall be a Quorum.

Minutes: Minutes shall be circulated promptly to all members of the Board.

 

Regulatory Matters

High level monitoring and responsibility for legal and regulatory governance of the Society and its subsidiaries.

Ongoing review of whether all persons undertaking Significant Management Functions, or acting as a Notified Non-Executive Director, remain fit and proper to do so.

Appointment of an individual to act as Significant Management Function 1 (Chief Executive) for the Society.

Challenge, review and approve the key regulatory documents on an annual basis, which includes but is not restricted to, the Internal Capital Adequacy Assessment Process (ICAAP), Risk Appetite Statement & Risk Policy, Stress Testing Policy, Internal Liquidity Adequacy Assessment Process (ILAAP), Conduct Risk Policy, Contingency Funding Plan (CFP) and the Recovery and Resolution Plan (RRP). The Board is ultimately accountable for these policies following consideration and recommendations from the Assets and Liabilities Committee and the Risk Committee.

Annual review of a report by the Money Laundering Reporting Officer on the Society’s and its subsidiaries compliance with Money Laundering requirements.

Approval of any changes and at least annual review and reaffirmation of all Board Policy Statements.

Performance Management

Annual review of the Society’s status as a mutual organisation, confirming that this remains in the best interest of members.

Approval of the long term strategy of the Society and its subsidiaries.

High level monitoring of the performance of the Society and its subsidiaries, through written reports from executive management and other management information, including key performance indicators.

Approval of all new initiatives.  Approval of changes to the details of existing savings and mortgage product types is delegated to the Assets and Liabilities Committee and the Executive.

Structure & Governance

Appointment of the Chairman and the Vice-Chairman of the Society Board on an annual basis

Consideration of recommendations for the appointment or removal of any Non-Executive Directors of the Society made by the Remuneration & Nomination Committee and approval as appropriate.

Receipt of a report from the Remuneration & Nominations Committee on succession planning for the Board and senior management of the Society and its subsidiaries

Approval of the recommendation for the appointment or removal of any of its Significant Management Function holders. Any formal appointment will be subject to the prior approval of the FCA and PRA.

Approval of the recommendations for the appointment or removal of an individual to act as an Executive Director of the Society. Any formal appointment will be subject to the prior approval of the FCA and PRA.

Approval of the recommendation for the appointment or removal of the Secretary of the Society made by the Society’s Chief Executive

Approval of the recommendations of the Remuneration & Nominations Committee in relation to the remuneration and other benefits of the Executive Directors [and other Senior Management] of the Society

Approval of the recommendation of the Boards of regulated subsidiary companies of the appointment of an individual to act as the controlled function CF3 (Chief Executive) for that company.  Any formal appointment will be subject to the prior approval of the FCA and PRA.

Strategy and Planning

Approval of the long term strategy of the Society and its subsidiaries, focussing quarterly on the key delivery components of financial performance, customer experience and outcomes; risk management and controls.

Approval of the proposed corporate plan and budgets put forward by the Society and its subsidiaries.

The overall approval, monitoring and review of the major risks facing the Society and its subsidiaries and establish the appropriate controls to mitigate those risks.

Procedures

Annual review of the Board Procedure Manual, including any proposed amendments.

Annual review and approval of the delegation of authorities.

Approval of the establishment of any new or disbanding Board Sub-Committees.

Approval of the appointments of individuals to Board Sub-Committees.

Approval of the terms of references of the Board Sub-Committees.

Approval of changes to the share structure of the Society

Approval of the Pillar 3 Disclosures Document.

Agreement and recommendation to the members of any changes to the Memorandum and Rules of the Society.

Agreement and recommendation to the members of the Society of any proposed change to the name of the Society.

Expenditure

Approval of capital expenditure over certain designated limits.

Delegated Authorities

Approval of the range of delegation of authorities and responsibilities to individuals and Board Sub-Committees.

External Auditors

Considering any proposed change in the external auditors to the Society and its subsidiaries.

Approval of the remuneration of the external auditors.

Other Matters

Discussion of any proposed new business initiatives, including the formation of or disposal of a subsidiary undertaking.

Approval of any programme for or single issuance of long term debt by the Society or any of its subsidiaries.

Approval of the initiation and response to any litigation or proceedings in respect of the Society and its subsidiaries.

Receipt of declarations of interest by Directors in relation to the Building Societies Act.

Approval of the annual report and accounts, including the Chairman’s Statement and Directors’ Report.

Annual Self-Assessment Review

Conduct an annual review of the Board effectiveness and governance arrangements where, at least triennially, such review is facilitated by an external party.