YMCA link is a UK first for building society
NEWCASTLE Building Society has announce plans to launch a new branch in North Shields in partnership with YMCA North Tyneside.
The building society plans to create a unique branch for the use of the whole community a few steps away from its old site in the town. In a UKfirst, Newcastle Building Society is working with YMCA North Tyneside to open a branch inside its community building on Church Way.
The Society said the move builds on its mission to invest in branch openings, bucking a national trend which has seen almost 6,000 UK bank branches close since 2015.
Over recent years, the Society has opened branches in several new locations by sharing space with community organisations and helping to restore access to financial services in places where banks have left town.
The new North Shields branch follows work on a new community branch in Newcastle city centre and a collaboration with North Tyneside Council to open a new branch inside Tynemouth library.
The new branch will occupy a prime position within the YMCA, which includes a gym, cafe, offices and supported accommodation.
The charity also operates a popular day nursery in the building next door.
The Society’s investment will see new community rooms, private meeting spaces and a branch area next to the front entrance.
Andrew Haigh, chief executive officer at Newcastle Building Society, said: “We’re delighted to share our plans to move to a better branch in North Shields which will be fit for the future.
“YMCA North Tyneside is a fantastic organisation, and the team do an amazing job of supporting people, so the opportunity to work with them and open a new branch makes perfect sense. Customers tell us time and again that they are worried about the number of bank branch closures and the removal of highly-valued local services.
“We think people deserve a choice – the convenience of digital as well as the reassurance and accessibility that comes from being able to pop into a local branch. Our intent is to increase the number of branch locations we offer.”
The Society is now engaging with its North Shields customers to ensure a smooth transition from its current Bedford Street branch, which will close when the new branch opens.
The Society currently has 31 branches across the North East, North Yorkshire and Cumbria, and once open, the new North Shields branch will be its fifth community partnership branch, adding to branches in Yarm, Hawes, Knaresborough, and Wooler.
Dean Titterton, chief executive at YMCA North Tyneside, said: “We’ve been near-neighbours of Newcastle Building Society for many years and proudly work together on an evergrowing range of projects.
“YMCA North Tyneside is dedicated to helping transform lives by creating supportive, inclusive, and vibrant communities. A hugely important part of that is for people in North Shields to be able to access friendly and practical financial services.
“The new branch means taking our partnership with Newcastle Building Society to the next level and will help us extend our services and reach more people.”