Leek United Building Society recently announced that it has reached an agreement in principle to acquire the Staffordshire-based Cheshire Building Society. The agreement is a significant step towards strengthening Leek United`s position in the competitive financial market and expanding its presence in the North West and Midlands.

The acquisition will see Leek United take over all of Cheshire Building Society`s assets and liabilities, including its branch network, staff, and customer base. The agreement is subject to regulatory approval and is expected to be completed in early 2022.

The deal is a win-win for both building societies. Cheshire Building Society`s customers will benefit from a wider range of services and products offered by Leek United, and Leek United will gain access to new markets and customers. The acquisition will also enable Leek United to diversify its income streams and strengthen its financial stability.

Leek United`s Chief Executive, Andrew Healy, said, “We are delighted to have reached an agreement in principle with Cheshire Building Society. This acquisition is an excellent strategic fit for Leek United and will enable us to continue to grow and serve our customers better.”

Leek United is one of the UK`s longest-serving mutual building societies, with over 160 years of experience in providing financial services to its members. It has a solid reputation for offering excellent customer service, and this acquisition will only enhance its ability to do so. The Leek United brand is well-respected and trusted by its members, and the acquisition of Cheshire Building Society will only further strengthen this position.

In conclusion, the agreement in principle between Leek United and Cheshire Building Society is a significant development in the UK`s financial services industry. The acquisition will enable Leek United to strengthen its position in the market, expand its customer base, and provide a wider range of services to its members. This move is an exciting one for the building society and its members and is yet another example of the UK`s dynamic and evolving financial sector.