Chelsea strong in current market conditions

Chelsea is one of the most efficient building societies in the country and hugely successful at what we do, lending safely and providing a secure home for people’s savings.

With the lowest ratio for wholesale funding of the top 10 societies, Chelsea’s members can feel confident. We are efficient, profitable and financially strong.

We have more than sufficient cash reserves to meet our commitments and our good quality mortgage book has lower than average industry arrears.

Peter Walsh, Finance Director and Deputy Chief Executive at Chelsea said, “As a building society we always put our member’s interest at the centre of our business. Despite the unprecedented degree of volatility in the market, our customers can feel very confident that Chelsea remains a safe place to continue to place and keep their savings. Over the years our cautious approach to business has allowed us to enjoy a huge degree of trust from our members.”

Many Chelsea branches have seen an influx of customers opening new savings accounts today. One branch manager commented that his branch had seen a real increase in the number of new customers who had opened one of our competitive accounts.