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Chelsea Building Society celebrates 40 years in Paignton

By Herald Express  |  Posted: December 12, 2012

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FORTY years ago, T Rex and Slade were top of the pops and Donny Osmond was battling it out with his little brother Jimmy for poster space on girls' bedroom walls.

A gallon of petrol cost 35p and a pint of milk 5p, and a couple could enjoy a night out at the cinema and a drink on the way home for little more than £1.

It was 1972 that Chelsea Building Society opened at its current home in Hyde Road, Paignton, and the branch has been happy to be a part of life in the town ever since.

Back then the average price of a house was £7,374, compared with the 2012 going rate of £171,384 for a semi-detached house in Paignton.

An eight-strong team at the Chelsea's branch in Hyde Road, led by manager Yvette Goldsmith, welcomed customers old and new for tea and birthday cake in the branch to celebrate their special occasion. Colleagues donned 1970s disco wear to add to the party feel.

"We're so excited to have been in Paignton for 40 years," said Chelsea branch manager Yvette Goldsmith.

"It's very much the society's ethos to have a strong branch network and we're happy to have been a fixture in the town centre for four decades.

"We've lost count of how many mortgages and savings accounts we've created in that time but our aim remains very much as it was in 1972, to offer our members great service, a competitive return on their savings and help them to buy their own home."

Other notable events making the news in 1972 included:

Households struggled with power cuts as electricity generation was disrupted by the miners' seven-week strike during January and February.

The final two manned missions to the Moon, Apollo 16 and Apollo 17, were safely completed, in April and December, respectively.

The Duke of Windsor died at his home in Paris on 28 May. The former King Edward VIII triggered a constitutional crisis in 1936 by abdicating to marry American divorcee Wallis Simpson and was succeeded by his brother, crowned King George VI.

The Chelsea Building Society, which has 35 branches, merged with Yorkshire Building Society on 1 April 2010. Chelsea Building Society is a trading name of Yorkshire Building Society.

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