Andrew has warmly welcomed the new that LINK, after assessing community need, will be establishing a banking hub in Westbury. The hub will be set up by bank-owned infrastructure company Cash Access UK. It will provide basic banking services including counter services run for the major banks by the Post Office, and dedicated rooms where customers can meet community bankers from their own bank.
Andrew lobbied for this outcome, in support of the community request for a banking hub, as part of his broader campaign for financial inclusion. Westbury has been without any in-person banking services since Lloyds closed their local branch in 2018. Andrew notes that this is part of a nation-wide trend; since January 2015, 6,000 bank and building society branches have closed in the UK or are due to close by January 2025, which is equivalent to 61% of all branches in 2015.
The MP has expressed concern that people are at risk of financial exclusion as access to cash and professional advice narrows. Particularly vulnerable are older people, people in poor health and those with lower financial resilience. Rural communities at large are also at risk. Face-to-face banking is important for many who are uncomfortable with online or telephone banking or who may not have the digital skills to bank in this way.
Andrew said;
‘I am hugely pleased that LINK have answered our calls and will soon be providing a new bank hub. I have lobbied and will continue to campaign for financial inclusion so that no one should be at risk of losing access to banking services.
‘Across the last few years, waves of local branch closures have seen access to banking services across the UK vastly diminish. Whilst this trend reflects shrinking demand for in-person services and greater preference for remote banking, there are many people who are not comfortable are able to manage their finances in this way. Banking hubs are vital in promoting financial inclusion and I am pleased that Westbury residents will have access to this in the near future.’