You can bank on this new move making a difference
After being badly affected by lack of access to banking facilities, Cambuslang has received a boost after an innovative new hub launched in the area.
All of the town’s banks closed within months of each other four years ago, and frustrated residents have since voiced complaints about the lack of banking options.
Now the new Community Access to Cash pilot scheme has officially launched a bankHub on the town’s Main Street, one of only two such facilities in Scotland.
It provides over-the-counter banking services, while staff from several major banks such as the Royal Bank of Scotland and Santander will be available for meetings on certain days of the week, ensuring residents don’t have to travel far for face to face support.
Community campaigners have hailed the opening as a “gamechanger” for the town.
John Bachtler, the chair of Cambuslang community council, said: “Cambuslang took a big hit when all three bank branches closed.
“Local people were having to go to other towns to use a bank and businesses have suffered a loss of trade as a result. We applied to become a pilot town for the Community Access to Cash scheme and were fortunate to be one of nine communities across the UK selected.
“We’ve been working hard with the Post Office, the major banks and other local community groups like LEAP, the Credit Union, Healthy n Happy, the CAB and CCTRA to bring banking services back to Cambuslang.
“The pilot will run for six months, and if there is sufficient demand, we are aiming for it to be permanent.”
The community council had previously highlighted the adverse impact the bank closures had on the most vulnerable members of Cambuslang, saying that the unemployed, those on low incomes and the elderly were particularly affected.
The nationwide pilots will trial solutions which could then be rolled out across the UK if successful.
Natalie Ceeney, chair of the Community Access to Cash initiative said: “The government has already committed to legislate to protect cash, and the financial services regulators are working closely with banks to identify practical next steps. Our aim is to use the pilots to critically inform this work.
“It’s clear that to keep communities viable, people need to be able to get cash easily, in a variety of ways. ATMs are important, but don’t meet everyone’s needs, particularly the most vulnerable, so being able to get cash over a counter, in a safe space, is still important to many.”
The bankHub will be open for cash/cheque deposits, cash withdrawals and bill payments Monday to Friday from 9am until 5pm. Each bank will provide a specific day where a meeting with a bank advisor can be arranged.