Open a new image. Select the Type Tool (Horizontal or Vertical), click on the image and write the text.
Here I chose the Coper Std font, which in itself has a quite chunky appearance, however the effect will work on any font. For background color I chose a blue color (#5574B9) and for the text I chose white color. The text size on my example is 56 pt.
Horizontal Type Tool
2. Opening Blending Options Window
Now all we have to do is to apply appropriate blending options. Right click on the Text Layer (in my case called "Chunky Text") and select Blending options (see image below)
This will open the Blending Options window (see below).
3. Selecting Drop Shadow
Select the "Drop Shadow" blending option. To see the Drop Shadow settings you have to select all of the "Drop Shadow" text (like it is on the image below), if you just check the box you will not get to see the settings.
The text will now look like on the image below.
4. Drop Shadow Settings
You will notice that there are quite a few parameters to play alound with. First set Opacity to 100 % (left picture) and then also set Spread to 100% (right picture)
Now play around a little with Angle, Distance and Size untill you get the effect you like the most. Here I decided to go with angle of 156°, Distance of 6 px and Size of 7 px. (left picture) I also changed the color to dark blue (#0E1462) (right picture).
Below is a picture of the final settings.
Here are two more examples of chunky letters. On the left picture I colored each letter with a different color and on the right one I used a different font and put a gradient fill in the background.