MS: A very sad day for Morriston as banks pull out
SWANSEA East MS Mike Hedges has greeted with dismay the planned double-whammy closure of two bank branches in Morriston.
Lloyds Banking Group has said it plans to shut 60 branches across the country, including the Halifax branch and the Lloyds Bank on Woodfield Street, Morriston.
Mr Hedges said: “It is hugely disappointing that both the Halifax and Lloyds Bank are going to close their branches on Woodfield Street.
“Lloyds is the last bank to still be operating on Woodfield Street.
“This will only leave the Post Office and the Principality Building Society to provide in-person banking in Morriston.
“Not everyone wants to buy items cashless or use online banking. This is a very sad day for Morriston.”
The Halifax branch is scheduled to shut on July 18. The Lloyds branch is due to close on August 4.
Lloyds Banking Group announced yesterday it was closing more branches against the backdrop of more customers choosing to sort their finances online.
The lending giant said it would close 24 Lloyds branches, as well as 19 Bank of Scotland and 17 Halifax sites.
The branches are thought to employ 124 people, but Lloyds said it would try to find staff new roles within the company.
The bank said it had seen a 27% rise in use of its mobile banking app over the last two years, and a 12% rise in regular users of its online banking system.
Now, 18.6 million people regularly bank online and 15 million use the mobile app.
“Just like many other high street businesses, fewer customers are visiting our branches,” the business’s group retail director Vim Maru said.
“Our branch network is an important way for us to support our customers, but we need to adapt to the significant growth in customers choosing to do most of their everyday banking online.”
The bank said that customers were continuing to choose online and mobile banking more frequently
than using a branch. The group currently has 739 Lloyds branches, 553 Halifax branches and 184 Bank of Scotland sites. Caren Evans, national officer for the union Unite, said: “Lloyds Banking Group must not be allowed to abandon 60 more local communities where bank branches play an essential role. “The 124 employees who work tirelessly in their communities are dedicated to serving the banking needs of the most vulnerable who depend on their skilled services. “When a bank branch closes, the heart of the local community is ripped out and the results are devastating. Unite is clear that simply leaving an ATM (cashpoint) in place of a vibrant bank branch is wholly insufficient. “The banking sector needs to answer some serious questions about its corporate social responsibilities and the Government cannot stand back and allow the relentless closure of banks to continue until no more local banking services remain.” The news follows several other closures from Lloyds Banking Group, which said in October it could close 48 sites, and announced 44 closures in June last year.
It is hugely disappointing that both the Halifax and Lloyds Bank are going to close their branches on Woodfield Street Swansea East MS Mike Hedges