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Chelsea Building Society

K_J_B
K_J_B Posts: 1 Newbie
in Savings & investments
Does anyone know if Chelsea is a separate financial institution or part of group?

It isn't shown in list on Martin Lewis' site so I'm not sure if the £35000 limit would apply if they went bust.

Thanks

Comments

  • bristolleedsfan
    bristolleedsfan Posts: 12,796 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    K_J_B wrote: »
    Does anyone know if Chelsea is a separate financial institution or part of group?

    It isn't shown in list on Martin Lewis' site so I'm not sure if the £35000 limit would apply if they went bust.

    Thanks


    There is not the slightest chance of a Building Society going bust because another Building Society would always take over a struggling Building Society.
  • BruceyBonus
    BruceyBonus Posts: 1,143 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    The Chelsea themselves are independent. I believe they do not have any subsidiaries, so no need to worry.
  • Baldur
    Baldur Posts: 6,565 Forumite
    K_J_B wrote: »
    Does anyone know if Chelsea is a separate financial institution or part of group?

    It isn't shown in list on Martin Lewis' site so I'm not sure if the £35000 limit would apply if they went bust.

    Chelsea is a mutual building society, like Nationwide, and is registered with the FSA (ref. number 206039) - savings are covered by the FSCS.
  • earlgrey_3
    earlgrey_3 Posts: 583 Forumite
    K_J_B wrote: »
    It isn't shown in list on Martin Lewis' site so I'm not sure if the £35000 limit would apply if they went bust.
    That's presumably because he says "The table below shows you which banks are standalone and which are the same institution." Chelsea are a building society not a bank. But then just to confuse you he's added a couple of building societies to his list of "banks" such a Nationwide. :rolleyes:
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