Building society plans for banking ... in a library

REGIONAL building society Newcastle hopes to get the goahead to open another communitystyle branch as part of its commitment to keeping financial services and access to cash on the high streets of the North East.

Subject to council approval, the branch will be incorporated into a new library development earmarked for Tynemouth. It will be the fourth such communitybranch launched by the society as it attempts to fill a vacuum left by the withdrawal of the big banks from the region’s towns and villages. It will sit within the library and offer a range of financial services – from savings deposits and withdrawals to advice on pensions, investments and tax.

Andrew Haigh, Newcastle chief executive, says: ‘As the North East’s largest building society, we believe that the high street plays a vital role at the heart of our communities. We are therefore committed to maintaining a strong network of branches and to work with like-minded organisations to find new and creative ways in which we can add value. Our community branches ensure local people can continue to benefit from the convenience of financial services on their high street.’ Bruce Pickard, deputy mayor for North Tyneside, says: ‘The colocation of libraries and building societies has proven successful elsewhere in the North East and we are excited about working with Newcastle on this project.’

Earlier this month, the MoS exclusively reported on the opening of new Newcastle community banks in Wooler, Northumberland and Hawes, in Upper Wensleydale, North Yorkshire. Both are in community centres. The fourth branch, like the proposed Tynemouth facility, is located in a library – Yarm in North Yorkshire. Newcastle’s backing of the high street is a fillip to the MoS ‘Keep Our Cash Campaign’. We believe all communities should have access to free cash, whether through a bank, building society or ATM. Our campaign has drawn universal support (banks excepted) and resulted in cash machine provider Link promising to install by the end of the year 200 free-to-use ATMs in cashstarved communities.