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Chelsea and Skipton open door for mutual vote

Chelsea and Skipton Building Society members are being allowed to vote on demutualisation.

Directors at both societies have agreed carpetbagging resolutions should be put to the vote

Both resolutions request mutual status to be re-considered, possibly leading to conversion and cash windfalls for members.

But Chelsea says the “consideration” of changing status should not be seen as support for conversion.

Chelsea chief executive Michael Bage says: “It&#39s unfortunate that we have to go through the annual ritual of disruption associated with carpetbaggers. Their intentions, if successful would lead to a less competitive market in future.”


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