Plans to roll out ten additional banking hubs across the North East and Cumbria have been unveiled, in a bid to support customers and businesses left behind by widespread branch closures.
The proposed sites include Barnard Castle in County Durham, Cockermouth in Cumbria, and Whitley Bay in North Tyneside.
Operated by the Post Office and supported by major banks, each hub offers essential services such as cash withdrawals, bill payments and deposits, alongside scheduled days when high street bank representatives are on-site to handle more complex transactions.
Retired engineering director Phil Dunn, who regularly uses the banking hub in Newton Aycliffe, County Durham, said it caters to “most” of his financial needs. “You can’t do everything in the banking hub, but you can do most things,” he noted. “If we need to do anything greater, we go to the main branch in Darlington, but generally nine times out of ten we can do it here.”
Research from consumer group Which? indicates that 212 bank branches have closed in the North East since 2015. Link, the national body responsible for identifying hub locations, reports that five million people in the UK still rely on cash “day in, day out,” with many using it to manage household budgets. Factors such as local deprivation levels and an older demographic are key considerations when deciding where to establish new hubs.
Alongside the Newton Aycliffe site, hubs in Maryport and Ulverston (Cumbria) and a temporary site in Ferryhill (County Durham) have already opened. Another ten are planned, including hubs in Alnwick and Amble (Northumberland), and Crook and Stanley (County Durham).
Banking hub director, Paul Culverwell, said that although online services have grown, face-to-face advice is still vital: “A lot of people really appreciate having a person in front of them to talk over concerns like mortgages and complex financial queries.”