A COMMUNITY banking hub is being considered in Droitwich to combat the fall of high street banks and access to banking services for residents as a result.
The scheme, which could take the form of a unit used to host different banking institutions on a rotating basis, received full support from Droitwich Spa Town councillors during a meeting on Monday, February 26.
A working group will be set up by the council to consider options for implementation of the banking hub. Town councillors, Dave Davidson, Matthew Brook, and Val Humphries agreed to take part in the working group.
Those involved will be responsible for liaising with banking organisations with a view to devising a plan for its delivery, whilst keeping the rest of the council informed on the progress.
Currently there are only two remaining high street banks in Droitwich – Santander and Lloyds. Come November 2024, Santander will be the only remaining high street branch as Lloyds have preemptively announced the closure of its branch later this year.
The community banking hub model has received full backing from Wychavon District Council who aim to support Droitwich Spa Town Council in its possible delivery. The district council already has links with Cash Access – the organisation who fronts the banking hubs.
The premise has been delivered in other similarly sized localities across the country, helping provide access to banking services for those who cannot use more modern online services and cashless payments.
This lack of access to a high street bank disproportionately affects the elderly within communities and those with complex accessibility needs.
One recent case study of a banking hub bringing services back to the high street is within the town of Belper in Derbyshire.
The town had been without a bank for over a year after its last branch, Lloyds, closed in November 2022.
Belpers banking hub, is hosted by the Post Office and managed by Cash Access. Five high street banks including Barclays, Natwest, HSBC, Lloyds and Santander set up shop at the hub on alternating days of the week.
Coun Davidson said: “I’d like to put my name forward.
“There isn’t much choice in town now and not everybody uses the internet.
“I’d welcome something like this.”
Being visually impaired, Coun Humphries understands the necessity for maintaining accessible services within banking.
“I’m very happy to put my name forward for this one,” she said.
