Who can step in to offer local banking?
NEWS that the traditional banks are jettisoning local groups and bringing in charges for community charity accounts, to concentrate on big business enterprises, gives the various small community welfare groups a challenge to find a natural home for organisations’ accounts.
The life blood of their membership is supporting good causes and being the flagships of the community. These accounts can vary from the many children’s to women’s groups, sports clubs and churches and allied groups, taking in much of the voluntary sector.
It is sad that banks and some building societies are no longer offering the traditional service to these groups, but continue to sponsor major sporting and television programmes. Hopefully, they can offer good alternatives. Some prefer to refer to telephone contacts, with costly calls, including several options and queueing, or online time-consuming searches in finding the correct information, even from experienced operators as an alternative to the principle of subsidiarity (dealing with issues at the lowest level).
A good many customers still like to have a local point of contact presence and first point of call, with restricted service following local branches disappearing.
In looking for a natural home ground, a local building society can probably offer a comparable account and have a good reputation for supporting local projects.
A key issue in our climate era is to choose a bank with a good ethical investment record.
It would be interesting to hear of the experiences of other groups.
GA PANTING
Thatcham