With a string of recent and imminent bank branch closures hitting Whitby, the Town Council is issuing a rallying cry to local people to support a plan for a Banking Hub.
Whitby Town Council has been asked to help with plans to create a banking hub in the town.
Last week Halifax announced it will be closing it's Baxtergate branch next year. The town's Barclays Bank is also set to close shortly.
Now an organisation called "Cash Access UK", which is backed by the major banks, has said it will open a banking hub in Whitby.
Town Council Clerk - Michael King - says they've been asked to help identify suitable locations.
As high street lenders vacate premises across town, the Council fears residents and businesses will be left stranded without nearby counter services, cash points or face-to-face financial assistance. But they believe a collaborative community hub could provide the solution.
Cash Access UK has approached the town council to find out how it can best keep the community up to date with the development of a banking hub for Whitby as part of its mission to protect access to cash and everyday banking services in local communities.
Town Clerk - Michael King - says they are looking for a dedicated facility in Whitby.
A centrally located hub could house multiple providers under one roof - offering pay-in and withdrawal facilities, private meeting spaces, and more.
Michael says the initial indications are that it could take up to 12 months to establish a banking hub but says that similar schemes have thrived elsewhere through locally supported partnerships.
Councillor Linda Wild, who Chairs the council’s Finance Committee, which will be debating the approach from Cash Access UK next month said:
"Losing our banks is a heavy blow, but we're determined to fight for Whitby's access to vital financial services,"
"There are a lot of people who have relied on face-to-face advice and support from their bank branches and their hard-working staff. The internet is not the solution to everybody’s problem.
To repurpose an old slogan, - There’s no ‘AI’ in TEAM. So by teaming up with banks and building societies under the umbrella of the LINK network, we're confident we can attract a dynamic new hub tailored to this town's needs and those vital conversations that so many people rely on."
Michael King says the town council has been asked by Cash Access UK to help gather the local communities thoughts on suitable locations for the hub.
Michael King says the council will now be reaching out to both local residents and businesses to get their views on teh plan.
Cash Access UK has already opened 39 Hubs in other communities. A new Banking Hub would provide a counter service for everyday cash transactions, together with a community banker service where customers will be able to speak face-to-face with their own bank or building society about more complicated banking matters.
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