Chelsea Building Society is determined to be a valuable part of the community by helping members to buy and own their own homes and encouraging others to save. But our commitment goes further than this.
We also help to support worthwhile causes, concentrating on the causes our members think are important. The main focus for the Society's charitable giving is the Yorkshire Building Society Charitable Foundation.
The Charitable Foundation is a registered charity which provides financial assistance to local charities and good causes, and acts as a focus for our charitable giving.
The Foundation concentrates on helping the elderly, vulnerable people including children and those with special needs and suffering hardship. To date, it has supported over hundreds of good causes both locally and nationally.
It forms part of our commitment to such charities and good causes and actively seeks to obtain recommendations for suitable charities to support from all members.
For further details about the Charitable Foundation, contact your local Chelsea branch or visit the Yorkshire's website.
We wish to avoid disruption to our business caused by speculators and allow customers access to our competitive savings accounts and mortgages. Therefore all new customers opening a savings account or applying for a mortgage with Chelsea, which confers membership of Yorkshire Building Society, are required to agree to assign any windfall conversion benefits to which they might become entitled to the Yorkshire Building Society Charitable Foundation (“the Foundation”). This agreement will continue for a period of 5 years from the date you become a member irrespective of the number of investment and mortgage accounts you open in that 5 year period. At the end of the 5 year period, you will be entitled to keep any windfall conversion benefits which may arise after that date.
In certain circumstances Yorkshire Building Society may not apply this requirement e.g. on the death of an investor (who was not subject to the charitable assignment) where the money is transferred into a new customer account opened by a beneficiary. A further example is where you were a member of Chelsea Building Society immediately before its merger with Yorkshire Building Society and have been a member of Yorkshire Building Society since that date. In these circumstances if you made a declaration in favour of Chelsea Charitable Foundation agreeing to assign any windfall conversion benefits to it when you originally became a member of Chelsea Building Society the benefit of this passed to Yorkshire Building Society on merger; if you did not make such a declaration you will be treated as having made a declaration agreeing to assign any windfall conversion benefits to the Foundation (subject to your personal circumstances) at the date when you originally became a member of Chelsea Building Society. You are therefore not treated as a new member for these purposes.
Chelsea Building Society and the Chelsea are trading names of Yorkshire Building Society. Principal office: Yorkshire House, Yorkshire Drive, Bradford BD5 8LJ. Yorkshire Building Society is a member of the Building Societies Association and is authorised and regulated by the Financial Services Authority. It is entered in the FSA register and our FSA registration number is 106085.
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