Murray Financial says it has conjured up enough support among Leek United Building Society members to force a special general meeting on its proposed take-over, according to the Financial Times.
Murray Financial chief executive Ken Murray says he has the support of more than 100 of the society's members, willing to put their names forward to the board to force the meeting within a month.
Murray has bid £30.5m for the society which he wishes to transform into an internet bank.
He has attacked the Leek United board for falling profits while increasing directors remuneration.
The society is fighting the proposals claiming it deliberately keeps profits low so it can return benefits to its members.