Tired of bank branch closures? Meet the building society fighting back

This story is sponsored by Newcastle Building Society.

In many towns and cities just like Knaresborough, the growth of online shopping and the popularity of out-of-town retail outlets has changed the face of our high streets over recent years. And it’s hard to ignore the fact that the rise of digital banking is having an impact on the number of bank branches and the availability of financial services in our communities. 

With more than 5,000 bank branches across the UK closing since 2015, people who don’t have access to digital banking, or those who prefer to manage their money in person might well worry about the future of the once-familiar bank branch. 

However, one building society is gaining attention in the region by bucking the national trend of branch closures and for coming up with new ways to restore access to financial services in its communities.  

Newcastle Building Society has 31 branches across the North East, North Yorkshire and Cumbria – a number which has actually grown over recent years with the recent addition of the Knaresborough branch – and despite the number of branch closures by others around the UK, says its commitment to face-to-face financial services is only getting stronger. 

Michael Conville, chief customer officer at Newcastle Building Society said:

“Customers tell us again and again that they’re worried about the future of branches. As an organisation owned by our members we’re constantly thinking about how to better serve our communities and we’re absolutely committed to investing in our branches and growing access to local financial services.  

“Branches are expensive to run, but instead of admitting defeat and pulling down the shutters, we’re taking a fresh approach, working with local people and finding new ways to make branches work for our communities. That includes rethinking what the branch might look like and showing what can be achieved when you’ve got customers’ best interests at heart.” 

How has Newcastle Building Society bucked the trend?

One of the ways Newcastle Building Society has been able to open more branches when others around them close is through its innovative community partnership branch. Since 2016 the Society has opened in four new locations – Yarm, Hawes, Wooler, and Knaresborough, each time working with local partners to open a new branch in a space shared with other local services.

In Knaresborough, the Society’s branch sits inside the local library, taking up a fraction of the space of a traditional branch but offering all the same services and making it easy for people checking out the latest books to check out the latest savings interest rates.  

The Newcastle Building Society branch is a part of the library and information centre.

The Society is also investing in its presence in Newcastle city centre, with plans to open a brand new flagship community branch at Monument in summer 2024. 

Michael added:

“There’s a real risk of financial exclusion in places where banks have left town. Often that impacts the most vulnerable and makes people more reliant on others to help manage their money. The community partnership branch works when there is a real need for financial services and a clear desire from local people and leaders to work together to bring those essential services back to the high street. It’s been a success for us in four places already and we’re working on more community branches all the time.” 

Banking for everyone

As well as its commitment to branches, Newcastle Building Society is sticking with some of the more traditional ways of keeping up to date with your savings, such as the savings passbook, which many banks and building societies are phasing out.  

But the Society is also investing in the latest technology to hand the power of choice to its customers and help restore access to cash and basic banking services in places where the banks have left. In its Knaresborough and Gosforth branches, a UK-first pilot of a multi-bank kiosk allows customers of any bank to withdraw and deposit cash from their current account – whoever they bank with – under the Society’s roof, free of charge without the need to be a customer of the society. For small businesses in particular, it means less time spent travelling to their nearest bank and more time running their business. 

Michael concluded:

“Technology is probably the biggest driver of change in financial services and by working with OneBanx and their multi-bank kiosk, we’re helping to restore basic banking services which are especially important for small businesses and the wider health of the high street economy. We’re also investing in our digital offering, including our online savings portal and app, because we believe customers deserve the best of both worlds – the convenience of online services and the reassurance and comfort that only comes from a friendly conversation on your local high street.”

To find out more about what we can do for you, pop into your local branch at 40 Market Place or visit the branch page by clicking or tapping here.  

Plan submitted to convert Knaresborough mill into banking hub

A plan has been submitted to convert part of a grade-II listed former Knaresborough mill into a banking hub.

Cash Access UK has lodged the plan for the building on Kirkgate in the town.

The mill was built in the 18th century and was most recently used as a tile showroom.

The developer plans to convert the ground floor of the former mill into a banking hub, which will offer a counter service operated by the Post Office where customers of all major banks and building societies can carry out regular cash transactions.

It will also provide a community banker service where customers can talk to their own banking provider about more complicated issues, from Monday to Friday, 9am to 5pm.

The company identified the former mill as its site for the banking hub in June.

At the time, Gareth Oakley, chief executive at Cash Access UK, said:

“We know the new banking hub has been eagerly anticipated by the local community and so we’re delighted we’ve now been able to secure a fantastic location for you in the heart of the community.

“This brings us a significant step closer in being able to deliver improved access to cash services to individuals and businesses in Knaresborough.”

North Yorkshire Council will make a decision on the proposal at a later date.

Cash Access UK is owned and funded by 10 of the UK’s biggest banking providers: Bank of Ireland, Barclays, Danske Bank, HSBC UK, Lloyds Banking Group, Nationwide Building Society, NatWest Group, Santander, TSB and Virgin Money.

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Knaresborough banking hub location revealed

The new banking hub in Knaresborough will be located at 15 Kirkgate, Bowling Green Yard, it was announced today.

The hub will offer a counter service operated by the Post Office, where customers of all major banks and building societies can carry out regular cash transactions.

However, an opening date is still yet to be revealed.

It will also provide a community banker service where customers can talk to their own banking provider about more complicated issues, from Monday to Friday, 9am to 5pm.

Community bankers will work on rotation, with a different bank or building society available on each day of the week. They are usually provided by the banking providers with the most customers in the local area.

Cash Access UK, the organisation set up to protect nationwide access to cash, revealed details of the hub today following longstanding concerns about bank closures in Knaresborough.

The process of finding a banking hub in Knaresborough has taken a while to come to fruition. There were hopes it would happen last year.

Gareth Oakley, chief at Cash Access UK:

“We know the new banking hub has been eagerly anticipated by the local community and so we’re delighted we’ve now been able to secure a fantastic location for you in the heart of the community.

“This brings us a significant step closer in being able to deliver improved access to cash services to individuals and businesses in Knaresborough”.

Nick Garrett, of the community benefit society Knaresborough Connectors: said the hub would reduce financial exclusion, adding:

“Many of Knaresborough’s frail residents tell us they prefer services, especially financial ones, to be face to face as online services aren’t accessible.”

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Andrew Jones, MP for Harrogate and Knaresborough said:

“When the hub opens it will be invaluable to residents of Knaresborough, especially to those who rely on cash and face-to-face banking.”

Charlotte Gale, of Knaresborough and District Chamber said:

“Better banking and cash access within the town is something chamber are very passionate about. This is something we’ve long campaigned for and we’re thrilled that a site has now been secured.”

Cash Access UK is owned and funded by 10 of the UK’s biggest banking providers: Bank of Ireland, Barclays, Danske Bank, HSBC UK, Lloyds Banking Group, Nationwide Building Society, NatWest Group, Santander, TSB and Virgin Money.

These firms have come together to provide shared services available to all their customers.

 

Business Breakfast: Manager appointed to Knaresborough’s new community bank

Business Breakfast is sponsored by Harrogate law firm Truth Legal. 

Newcastle Building Society has appointed Heather Pearman to manage its new community branch in Knaresborough which opened in July.

Since the last bank in the town was closed in 2021,  the building society said it had worked closely with the borough and county councils to restore banking access.

The building society said its community branch, inside Knaresborough library, showed its commitment to maintaining a high street presence across North Yorkshire.

Heather Pearman joins with over 10 years’ experience in financial services, having previously worked for Knaresborough’s Bradford & Bingley and Santander branches for 15 years.

She said:

“The people of Knaresborough have been crying out for the return of financial services to this thriving market town and we hope the arrival of our community branch will deliver the essential support they’ve been missing.

“After some time away from Knaresborough it’s a privilege to return to the town I love, and engage with some of the familiar and new faces that make this town such a jewel in North Yorkshire’s crown.

I look forward to integrating our new community branch into the heart of Knaresborough and delivering the much-needed local financial facilities for people and businesses in our area.”

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Harrogate solicitors, McCormicks, is the main sponsor for this year’s 28th annual Yorkshire Young Achievers Awards.

The awards mark the achievements of outstanding young people aged under 35 and nominations are now open. Organisers say the winners don’t need to be famous, they can be completely unknown but have achieved something amazing for themselves or their community.

Chairman Peter McCormick OBE said: “This year has already seen some terrific achievements by young people from Yorkshire but we want to hear about more!”

The Awards dinner will be held for the first time since 2019 on Thursday 17 November at the Centenary Pavilion at Leeds United’s Elland Road ground and is the main fundraiser for the Yorkshire Young Achievers Foundation which makes grants to young people and organisations supporting them across the region.

The nomination categories are as follows:

The Awards have raised more than £1.3m for young people and projects helping them across the region and anyone nominate a potential winner. Simply visit the Awards website at www.yorkshireyoungachievers.co.uk. The closing date for entries is Friday 2 September.

Barclays in Ripon to close despite increase in customers

Barclays bank in Ripon is to close in August even though the amount of counter transactions is going up.

The branch, on Market Place, currently opens four days a week, from Monday to Thursday.

A report explaining the reasons for closure says the number of counter transactions went up in the two years to March 2020.

It added that more than 3,000 customers visited regularly for personal or business banking purposes in the last year.

But only 121 customers use the branch exclusively for banking. Eighty percent of customers also use online and telephone banking.

The report says 41% of Ripon customers also use nearby branches, such as Harrogate and Thirsk.

Barclays, which will close on August 25, is one of five banks currently open in the city alongside HSBC, Halifax, Skipton Building Society and Yorkshire Building Society.

Last year it announced the closure of its Wetherby branch.

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Bank machines to be fitted in Knaresborough Library building

Banking facilities are set to open in Knaresborough Library this summer that will give people access to numerous banks.

The arrival of a multi-bank transaction terminal will mean personal and business customers of all the major banks can withdraw cash, deposit coins and notes, move funds and pay bills.

Previously announced in March, the branch will be run by Newcastle Building Society, alongside the library and North Yorkshire County Council, in the building on Market Place.

After the loss of Knaresborough’s last bank, Halifax, last year, residents and business owners have had to travel to banks miles away or join the queue of people at the town’s Post Office.

The new terminal, run by OneBanks Hub, will work alongside branch workers who can offer face-to-face advice and private transactions.

The addition of the terminal is a pilot scheme with only one other machine being installed in Newcastle.

Duncan Cockburn, chief executive of OneBanks Hub, said:

“We developed OneBanks Hub to support communities without access to everyday banking. This initiative will help individuals and small businesses continue to do their critical financial transactions without having to travel miles to their nearest bank branch. It is a model that can be replicated in many more locations.”

The county council has said it is unable to give a specific opening date but said it would be this summer.

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There is also a new shared banking hub set to open in Knaresborough by the Access to Cash Action Group.

Under the scheme, a building in Knaresborough will provide help with general banking queries and more specific issues, such as power of attorney and opening accounts.

Representatives from various banks will work in the hub on a rotational basis. The hub itself will be fitted out by the Post Office.

Community banking service to open in Knaresborough library

Knaresborough Library has teamed up with Newcastle Building Society to open a community branch which will offer much-needed banking facilities to the town.

Knaresborough has been without a bank since Halifax closed last year and just two cash machines, which often run out of money.

This scheme is set to open in the summer and will offer the building society’s full range of services.

A similar project was launched within Hawes Library which includes cash withdrawals and it is believed the branch in Knaresborough will offer the same.

County Councillor Greg White, executive member for libraries, said:

“We are delighted to be welcoming Newcastle Building Society into Knaresborough library later this year. The offer of financial services promises to increase footfall into Knaresborough library and encourage new visitors through the doors.”

The Knaresborough site will be Newcastle Building Society’s 31st site across North East, North Yorkshire and Cumbria.

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It looks like Knaresborough could have two sites opening this year offering banking services. There is another upcoming project, run by the Access to Cash Action Group, to open a shared banking hub in the town by the end of the year.

The hub will provide help with general banking queries and more specific issues. Representatives from various banks will also work in the hub on a rotational basis. The hub itself will be fitted out by the Post Office.

Charlotte Gale, a member of the hub’s focus group, told The Stray Ferret the library’s new community branch will not interfere with the banking hub but instead work as a “parallel project”.

A survey to have a say on the services the banking hub offers is still open, to complete it click here.

Knaresborough banking hub could open this year

Knaresborough’s banking hub could be open by the end of the year after a meeting last week put plans in motion.

The closure of the Halifax bank on Market Place last year left Knaresborough without a bank and just two ATMs, which often run out of cash.

In December, Knaresborough was picked to be one of five pilot areas for new shared banking hubs by the Access to Cash Action Group.

Under the scheme, a building in Knaresborough will provide help with general banking queries and more specific issues, such as power of attorney and opening accounts.

Representatives from various banks will work in the hub on a rotational basis. The hub itself will be fitted out by the Post Office.

Last week, representatives of the town including the mayor, Cllr Christine Willoughby, borough councillor Phil Ireland and Knaresborough Chamber of Trade and Commerce representative Charlotte Gale met with the action group to discuss what Knaresborough needs.

Businesses have said the town needs an additional ATM and for banks to be open later than usual business hours.

Ms Gale took these points forward to a meeting with the action group yesterday. She said:

“It’s been challenging for businesses with the pandemic but losing the last bank in Knaresborough was an additional stress. We need to manage expectations but the hub will definitely allow people to pay in and take out cash and get the advice they need.

“We’re still talking to locals about what they need, the managing groups wants to make sure the solution meets the needs of the town.”

A location for the bank is still yet to be decided. A number of empty high street units have been suggested including the former Fultons Foods unit on the high street

Fultons Knaresborough

The former Fultons Foods

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Cat Farrow, from the Access to Cash Action Group, said:

“We understand how important the new banking hub will be to Knaresborough and we’re working hard to make it happen as quickly as possible. The hub is fully funded and we’re actively exploring a number of possible sites.

“We’re confident that the banking hub will be open before the end of the year.”

To have a say on the services the banking hub offers, complete this survey.

Banking facilities set to return to Knaresborough next year

Banking facilities look set to return to Knaresborough next year after the town was selected to be one of five pilot areas for new shared banking hubs.

Knaresborough’s last bank closed this year, leaving just two high street ATMs, which often run out of cash.

The Access to Cash Action Group identified the areas in the UK most in need of additional banking facilities to become pilots.

Under the scheme, which is supported by banks, consumer groups and small business organisations, a Knaresborough location will be sought to provide at least one cash machine and banking services.

It is hoped that representatives from the various banks supporting the scheme will operate on a rotational basis in the Knaresborough hub.

They will be able to help with general banking queries and more specific issues, such as power of attorney and opening accounts.

Knaresborough Mayor, Cllr Christine Willoughby, tweeted about the proposed bank today and said she’d received a lot of excited and positive feedback from local businesses.

She said:

“I’m excited, I think it’s what we need. Our pleas have been answered, we’ve been struggling for some time with just the Post Office and two ATMs. I hope we can have some meaningful discussions in the new year.

“Bring it on.”

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A statement by the Access to Cash Action Group said the move was part of measures designed to “mark the beginning of a long-term commitment to ensuring widespread cash and banking access for communities where services are limited”.

It added units previously used by banks were ideal locations because it made planning permission easier to obtain.

Open by Easter?

It is hoped Knaresborough’s banking hub will open by Easter, but the group said it was too early to give a definite timeframe.

Natalie Ceeney, chair of the Access to Cash Action Group, said:

“We know that demand for cash is declining, but we also know that it continues to play a vital part in the lives of at least five million people in the UK – including some of the most vulnerable in society. The community pilots have shown that there are many different ways to meet people’s cash needs.

“Informed by this experience, I’m confident that the new plan will lay the foundations for a positive future for cash access across the UK.”

As well as Knaresborough, other sites identified for hubs are Acton in west London, Brixham in Devon, Carnoustie in Angus and Syston in Leicestershire.

Ripon Post Office moves to new premises

After more than 60 years in Finkle Street, there’s a new forwarding address for Ripon Post Office.

The team of four counter and mobile service staff headed by postmistress Amy Kaur, has moved to The Arcade, just off Market Place.

The Mayor of Ripon, Councillor Eamon Parkin, was on hand for the official opening yesterday and gave the new premises his stamp of approval.

He told the Stray Ferret:

“The post office provides services that are vital to the whole community, from people sending letters and parcels, to those collecting their pension or doing business banking.”

Photograph of the former Post Office premises in Finkle Street Ripon

The former premises in Finkle Street

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Cllr Parkin, added:

“With level access from the street, it will be a lot easier for people with limited mobility and parents with prams and pushchairs to gain entry.

“I wish Amy and her team every success in their new location.”

The former post office premises had steps and no ramp and Mrs Kaur, said:

“We have been wanting to move for some time to a more accessible place.

“In addition to selling postage stamps, accepting parcels for delivery, paying out pensions, handling passport and driving licence applications and car tax renewals, we provide financial services ranging from travel currency to business banking and cash and cheque transactions.”

A key element of the service provided is also expanding – as the mobile post office unit managed by Gordon Royle now covers 22 towns and villages in the Ripon area, with the possibility of further locations to be added.

Mr Royle said:

“During the current coronavirus crisis, when many people living in rural communities remain isolated in their homes and unable to travel to Ripon, the mobile service has grown in popularity.”

As well as providing the full range of post office services, the new site also includes a value store.