High street left without bank to get shared hub

A banking hub, where people will be able to pay bills, will be set up in Yarm

A shared banking hub is set to open in a community which has been without a branch for more than two years.

People living in Yarm, Stockton-on-Tees, particularly the elderly, had complained they felt "isolated" after the town's last bank, Barclays, closed its doors in 2023, its Conservative councillor Andrew Sherris said.

Cash Access UK, a not-for-profit company funded by major high street banks, said it would set up a local hub where people can pay bills or speak to a bank's advisors, who will be available a rotating basis. It will look for potential sites in the coming weeks.

Sherris said it was "wonderful news" and praised the "combined effort" of those who helped the case.

The announcement followed a request by Sherris, with support from Stockton West's Conservative MP Matt Vickers, to Link.

Link, which is the UK's main ATM network, said there were currently 186 hubs in the UK.

'Cash access matters'

Sherris said it was great news for town and surrounding areas.

"When this request went in it was down to so many messages from residents, particularly elderly, who felt isolated following the closure of our last bank, Barclays," he said.

"I'm sure it's a combined effort on the part of many.

"We'll now await some details on how it will come together."

Yarm had once been home to several high street banks but the last, Barclays, closed in July 2023.

The hub will be operated by post office staff.

Vickers said he was delighted by the announcement, saying "access to cash really matters".

He said he had met several times with Link to lobby for a banking hub and that thousands of local people had signed his petition on the issue.