Merger proposed between Skipton Building Society and Chesham Building Society
The merger, which is subject to Financial Services Authority (FSA) approval and approval by
Chesham's members, is expected to become effective on 1 June 2010. The enlarged Society - to
be called Skipton Building Society and have its Head Office in Skipton, North Yorkshire - will have
over £15bn assets and a 92-strong branch network. Full details of the proposed merger are being
mailed to Chesham members next week.
The two societies share a similar ethos, and both are committed to providing high levels of
customer service to members and supporting the communities in which they operate. Chesham
already has a working relationship with Skipton as it uses an IT platform provided by a subsidiary
within the Skipton Group.
Skipton has committed to retaining Chesham's three branches in Chesham, Aylesbury and Little
Chalfont, together with the agency in Tring, for 12 months from the date of merger, after which
they will be subject to Skipton's usual process of continually reviewing the performance of
individual branches and agencies to assess their ongoing suitability. Chesham members will be
able to transact in any branch of the enlarged Society from merger date. There will also be no
compulsory redundancies among branch staff as a result of the merger.
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