The merger between Yorkshire Building Society and Chelsea Building Society on April 1st 2010 greatly enhanced the strengths of both brands and created many new opportunities for the UK's second largest building society. It’s the ideal marriage as we share proud histories, complementary products, a strong customer focus and a bright future together.
History of Chelsea Building Society
The story began all the way back in 1875 when the Camberwell & South London Building Society was formed. Just three years later, the Borough of Chelsea Permanent Building Society also came into being.
As the years went by, both societies merged with smaller societies until they finally came together on New Year's Eve in 1966 to create the Chelsea and South London Building Society - a brand new society with assets of £30 million. So it proved a great year for building societies as well as English football. Our Administrative HQ was based in Streatham, whilst funnily enough our registered office wasn’t far from Wembley at 110 King's Road, Chelsea.
In April 1971 we changed our name to what it is today. Whilst another important merger happened in 1988 when we joined with the City of London Building Society. And twenty years later, again on New Year's Eve, we merged with the Catholic Building Society and have incorporated their vision of helping first-time buyers, many of whom have low incomes.
Chelsea Building Society today
Even before we merged with the Yorkshire Building Society, we were the country's 5th largest building society in our own right with assets in excess of £14 billion and 35 branch offices. Although our base is in southern England, our direct savings and mortgage facilities mean that we've always been regarded as a national building society. So as we combine our strengths with the Yorkshire, we're ideally placed to enjoy a very rewarding future.
Read more about careers at Chelsea Building society at www.workatchelsea.co.uk.