Catholic - Chelsea Building Societies merger. Which account to close?

rbulph

Following the merger I now have two accounts with Chelsea Building Society - one which I opened with Chelsea and which has £250 in it, and one which I opened with Catholic Building Society and which has £100 in it. I think they both give me membership of Chelsea but presumably I wouldn't get a double windfall if Chelsea was now to demutualise.

So what I have to decide now is which account to close. If both give me membership then the extra £150 in the original Chelsea one is not likely to give me much extra windfall if Chelsea is to demutualise, so I may as well close that one and keep the ex Catholic one open. Would that be sensible?

Thanks for any help.

alastair_h

Personally i'd wait until any windfall was paid out before closing either. With Chelsea taking over Catholic the windfall should be paid on the Catholic account.

http://www.bankingtimes.co.uk/10062008-chelsea-and-catholic-building-societies-to-merge/

baby_boomer

The Catholic windfall has been paid out. You can keep either account if you hold a forlorn hope of a Chelsea windfall in future.

The only windfalls likely will be those going to the Chelsea directors.

rbulph

Yes, I've had my cheque, thanks. I think I'll leave the old Catholic BS account there just in case of a further payout one day.

ffacoffipawb

rbulph wrote: »

Yes, I've had my cheque, thanks. I think I'll leave the old Catholic BS account there just in case of a further payout one day.

There's no rush. You can always withdraw at the last minute.

Milarky

Close the account which is most convenient. My Catholic Monthly Saver was down to 1.6% by the time I got paid at the end of January - whereas I have £100@ 6.55% fixed until August with Chelsea. Wasn't much of a toss up...