The Skipton and Chesham building societies are to merge, which will result in a mutual with over £15 billion of assets and 92 branches.
The move is subject to FSA confirmation and approval by Chesham members and if the merger is expected to become effective on 1 June.
Skipton have committed to retaining Chesham’s three branches for 12 months from the date of merger, after which they will be subject to the Society’s ongoing branch review process. There will also be no compulsory redundancies among branch staff as a result of the merger. Chesham members will be able to transact in any branch of the enlarged Society from merger date.
Skipton group chief executive David Cutter said: “We have always made it clear that we would consider further merger activity where it is in the best interests of our members. We look forward to welcoming Chesham’s members on board and believe this union will provide positive product and service benefits for the combined customer base of the enlarged society.””
