Concern at closure of Nationwide branches

CONCERNS have been raised after a building society has confirmed it will be closing two of its branches due to ‘declining transactions’.

Letters were sent out to customers revealing Nationwide Building Society would be closing its North End and Southsea branches on December 17.

The surprise announcement has led to anxieties for some pensioners. One said: ‘My concern is that a lot of elderly will be impacted by the closures as they don’t have internet banking.’

But Nationwide believe the move will benefit the community with investment in its Portsmouth and Cosham branches — part of a national £225m roll-out of branch upgrades — seeing both transformed into modern facilities that will boost the experience of users.

The Portsmouth branch will open after its refurbishment on November 12 while the Cosham location will open its doors on December 15.

A spokeswoman for Nationwide said: ‘Branches are important to us and we know our members value the personal service they offer. We’re committed to maintaining our branch network, upgrading over 200 branches and investing around £225m since 2017.

‘We continue to look at how members are using our branches, and from time to time we must make difficult, but carefully considered decisions in the interests of our wider membership.

‘Over the last five years we’ve seen a decline in transactions in North End and Southsea, and around three quarters of members already use surrounding branches, so we have decided to close these branches.’

She added: ‘We’re investing in our Portsmouth branch, which is under two miles from both branches, and believe in the long-term it will provide members with an even better face-to-face experience.’