The Boards of Yorkshire Building Society and Chelsea Building Society announced today that they have agreed to merge, creating a second major force in the building society sector.
Iain Cornish, Chief Executive of Yorkshire Building Society said, "This merger creates a second major force in the building society sector. Joining with Chelsea offers a great opportunity to build on the strengths of both societies and form a strong, independent mutual organisation.
The enlarged Society will continue to have one of the strongest capital positions of any major UK bank or building society and a secure funding base. As far as Yorkshire is concerned, we are seeing more positive signs and this merger will ensure that we are extremely well placed to prosper as markets recover. I firmly believe that a merger with Chelsea on these terms is in our members’ interests and urge them to vote in favour of it."
The Merger Helpline is open Monday to Friday 8am – 8pm, and Saturday 9am - 1pm. Charges to 0845 numbers may vary. Prices can be checked with your phone provider. Mobile calls usually cost more.
Yorkshire Building Society is one of the largest building societies in the UK. We offer a range of financial products and services including: savings & investment accounts, insurance products, loans, mortgages and more.
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Yorkshire Building Society is authorised and regulated by the Financial Services Authority (FSA).
