How is Chelsea affected by current market conditions?
We remain a safe and secure building society.
The majority of our lending is supported by money saved with us by members.
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.
The key points to remember about Chelsea are:
- we are a building society, not a bank
- we are an efficient, profitable, financially strong business
- we have more than sufficient cash reserves to meet our commitments
- we have a good quality mortgage book
- we are not exposed to the US sub prime mortgage market
No saver with a building society has lost any of their savings since at least 1945 (and probably a long time before that). Building societies are determined to maintain that record.
Find out more about the following items:
Icelandic banks
Chelsea’s financial position
Financial Services Compensation Scheme
Financial Services Authority
Building Societies Association
Find out more about our savings accounts.
