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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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