Chelsea Building Society Profile and History. |
Formed originally in 1875 as the Camberwell and South London Building Society and in 1878 as the Borough
of Chelsea Permanent Building Society. On the 31/12/1966 these two building societies merged to become the Chelsea and South
London Building Society. In April 1971 this name was changed to the Chelsea Building Society. In 1973 the headquarters was
moved from Streatham in South London to Cheltenham. Head
Office Chelsea Building Society, Thirlestaine Hall, Thirlestaine Road, Cheltenham, Gloucestershire, GL53 7AL. Tel 0845 744 6622 The Chelsea has 35 branches.
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Chelsea Building Society offers a wide range of products. The products for savers include notice accounts,
easy access savings accounts, regular savings accounts, ISAs, fixed rate bonds and children's accounts. Chelsea has a selection of mortgages including fixed rate, tracker, variable rate discount,
cashback, buy to let and self certification. Insurance products include buildings and contents insurance from legal and general, motor insurance, travel insurance, mortgage protection and motor breakdown cover. Chelsea Building Society can also offer share dealing and will writing.
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Financial Results year ended 31st December 2008 |
The Chelsea Building Society made a loss before tax of £39,300,000 as against a profit the previous
year of £63,000,000. This loss was due to set asiding £44.3 million due to an exposure of £55 million to
two of the failed icelandic banks, a provision of £10.2 million towards their contribution to the financial services
compensation scheme levy and £15.4 million goodwill write off on the acquistion of BCS Loans and Mortgages Ltd.
General provisions also increased to £25.1 million as against £1.8 million the year before. Highlights Net New receipts from savers £831
million Total assets increased by 12%
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A.C.Parsons (appointed 1/10/2008) |
53,000
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-
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5,000
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8,000
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66,000
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P.J.Walsh (retired 31/12/2008) |
445,000
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38,000
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17,000
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22,000
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522,000
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Chelsea had 6 Non Executive Directors during the year |
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1,236,000
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118,000
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48,000
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41,000
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1,443,000
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