Lancashire officials urge faster rollout of banking hubs to revive high streets

The rollout of banking hubs designed to fill the void left by the decline of traditional high street branches is not happening quickly enough in Lancashire, according to county councillors. They argue that Lancashire needs more such hubs, which are opening nationwide, to maintain face-to-face services in town centres abandoned by banks.

To date, only two such facilities have been launched in the county, with another four in the pipeline. These hubs offer a range of banking services that were once commonplace on most high streets until the collapse in branch numbers began about a decade ago.

Unlike their predecessors, these new hubs serve all customers, regardless of their banking affiliation. They cater to individuals and businesses who need or prefer cash transactions, as well as ensuring banking access for elderly and disabled residents who may find transitioning to digital banking challenging or undesirable.

At a Lancashire County Council meeting, members unanimously agreed to form a working group to investigate how the establishment of banking hubs could be expedited in areas most impacted by the dismantling of the branch network.

County Cllr Matthew Maxwell-Scott, who proposed the initiative, commented: "With the exception, perhaps, of our largest towns, the bank is finished...but banking isn't – and this is a way of keeping it going.", reports Lancs Live.

He also mentioned that "some pressure" should be applied to Cash Access UK, the entity responsible for the new hubs which operate under Post Office branding, to expedite their introduction in Lancashire. "The decline of the high street bank is perhaps something that we mourn, but ultimately, as a consumer, I don't want to be paying for bricks and mortar that don't really deliver anything that I need, that then results in higher fees and charges."

However, he acknowledged the necessity for certain demographics, stating: "But...for those who do require more support – often older citizens [and] those who run cash small businesses – they still need the [services] of...a high street bank. The banking hubs effectively replicate those," explained County Cllr Maxwell Scott, representing Lancaster Rural East.

Currently, only two such hubs have been launched in Lancashire, located in Barnoldswick and Great Harwood, with plans for additional hubs in Bacup, Darwen, Kirkham, and Morecambe. Notably, Bacup and Morecambe are slated to open in February and September 2025, respectively.

Banking hubs operate from 9am to 5pm, Monday through Friday, and some feature 'community bankers' from specific banks who visit on predetermined days, allowing customers to discuss complex issues with a representative from their own bank. The UK has seen over 6,000 bank branch closures since 2015, as reported by the consumer group Which? earlier this year.

County Councillor Noordad Aziz highlighted at the meeting the need to address cash availability beyond banking hub hours. "If you look at the number of free-to-use cash machines that have disappeared from our high streets across the county, they are significant," he remarked.

He also pointed out that those ATMs which charge for withdrawals can impose "a significant amount of money."