Chesham Building Society
The Society found that the service to existing customers was at times being disrupted by the actions of speculators. To avoid such disruption the Society requires new investors to agree to assign to a charitable foundation, any future windfall benefits they receive, (in the unlikely event of a transfer of the Society's business to a bank etc) within five years of their accounts being opened.
The charity appointed by the Society to receive future windfalls is the Charities Aid Foundation (CAF), a UK registered charity governed by a Board of Trustees whose patron is HRH The Prince Philip, Duke of Edinburgh KG KT.
Existing shareholding members may open new accounts without being required to assign any benefits to The Charities Aid Foundation if, when they do so, they have maintained continuous shareholding membership:-
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Since before 17 January 2000 (when these arrangement were introduced)
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Since they opened a shareholding account and entered into a charitable assignment agreement (though this agreement will remain in place and usually apply to all account balances, though subject to the five year limit referred to above).
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There are certain other categories of investor who are exempt from assigning any future windfall rights. A list of these categories are available from the Society.
The above is only a summary of the charitable assignment arrangements, the complete terms of which are set out in the Society's share account application forms.
If you need any further information, please contact the Society.
Chesham Building Society Branches
Chesham Building Society Head Office
12 Market SquareChesham
Bucks
HP5 1ER
United Kingdom
All Enquiries:08000 684 784
Fax: 01494 778 399
Chesham Building Society Aylesbury
5 Market SquareAylesbury
Bucks
HP20 ITA
United Kingdom
All Enquiries: 08000 966 026
Fax: 01296 393 938
Chesham Building Society Little Chalfont
5 Nightingales CornerLittle Chalfont
Bucks
HP7 9PY
United Kingdom
Tel: 01494 765 661