Ipswich branch of the Chelsea Building Society to close

The Chelsea Building Society brand is to be phased out.

The Chelsea Building Society brand is to be phased out. - Credit: PA

The Chelsea Building Society branch in Ipswich is one of 22 identified for closure as part of a network overhaul announced by the Yorkshire Building Society Group.

Most staff at the affected branches will be redeployed, according to the society, with only 13 jobs at risk as a result of the closures.

The society currently has three sites in Ipswich, with Yorkshire Building Society and Norwich & Peterborough Building Society branded branches located in Tavern Street as well as the Chelsea branch in Princes Street.

Both the Chelsea Building Society and Barnsley Building Society names are to be phased out, with those that remain open being rebranded under the Yorkshire Building Society identity.

Seven Chelsea Building Society branches will close in total, with the rest to be rebranded by September.

Six Barnsley Building Society branches will also close, with the remainder being rebranded by July, and nine Yorkshire-branded sites will also shut, reducing the overall estate from 230 to 208 by the end of the year.

The group added that its 45 Norwich & Peterborough Building Society branches were not affected by the rebranding plan.

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Chris Pilling, chief executive of Yorkshire Building Society, said: “Our branch network always has been, and remains, at the heart of our business, providing the face-to-face service that many of our members prefer.

“These planned changes will make us more efficient and will deliver greater long-term value to both new and existing members. They will also help us to support the changing needs of our members.”

The Yorkshire Building Society merged with the Barnsley Building Society in 2008, the Chelsea in 2010 and the Norwich & Peterborough in 2011.

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