Co-op bank closure to go ahead

FEARS have been sounded over how the closure of the Co-op bank – the latest to shut in Aberdare – will affect the town’s residents, but the company is adamant it will not reverse its decision.

The bank on Duke Street announced recently it would be closing its doors for good in May.

Customers were told they would now have to use online banking, or that they could use similar services at the town’s post office.

But local politicians recently met with the company’s executives to press them on their decision, as well as seek answers to various questions.

Assembly Member Vikki Howells said: “My first concern was about the lack of community consultation around this decision.

“The branch draws in customers from a wide area, and plays an important role in enhancing the vibrancy of the local economy.

“Whilst the bank may make its decisions on a purely commercial basis, it should do more to engage with local residents who have been loyal customers for a number of years, and their elected representatives. I am glad bosses took this point on board.”

Ms Howells said she remains “concerned” about the impact of an empty building in a “prominent location on the borders of the town centre”, adding: “As the Co-operative only had the building on a leasehold basis, they were unable to offer any reassurance on this point.

“Although it was not possible to change the decision that had been made by the Co-operative Bank, I did use this opportunity to discuss how the bank’s customers could best be supported in accessing banking facilities moving forward. There is an important issue here about how bank closures are having an impact on financial inclusion, and I will be looking to raise this on a cross-party basis in the Welsh Assembly.”

Aberdare East Councillors Mike Forey and Steve Bradwick have also taken the company to task over the closure.

Coun Bradwick said: “Particularly at peak times, customers of the local Post Office can be found queuing outside the entrance in all weather conditions and I am not sure the Co-op has given sufficient thought as to whether Aberdare Post Office could cope with the extra business.

“With recent investment into Aberdare hopefully leading to increased footfall in the town, it would have been good if the bank had perhaps engaged with staff and students at the new college and secondary school instead of taking this shortterm solution.”

Coun Forey added: “Many customers have a strong loyalty to the Coop brand and value the ability to visit the local branch.

“For many older people it gives them the opportunity to meet and interact with other people rather than lead their lives in loneliness and isolation.

“The Co-op extols the virtues of ‘online banking’, but when 35% of its locals customers are over 65 years of age, this is a further point that must be taken into consideration.

“The needs of these customers really aren’t being met by this decision.”

Responding to the comments, Heather Lauder, chief banking operations director of the bank, said: “This decision has not been taken lightly and we realise this may be difficult news for some colleagues.

“However, like many banks, the proposals reflect changes in the way our customers are choosing to bank with us, which has continued to accelerate as customers increasingly undertake more of their transactions online or via contactless payments.

“We are writing to affected customers to provide information about the alternative options available to them, as well as our online and mobile banking facilities, the closing branches are within one mile of a Post Office branch where customers can undertake most day to day transactions.”