A Suffolk town is set to receive a new banking hub following requests from community leaders.
LINK, the UK’s Cash Access and ATM network, has confirmed Hadleigh has been recommended a new hub after requests from South Suffolk MP James Cartlidge and councillor Jane Carruthers.
The hub will likely open in a year and over the next few weeks Cash Access UK will begin to engage with the community and start to look for potential sites in the town.
To date, LINK has recommended 147 banking hubs, 64 of which are up and running across the UK.
Hadleigh will be the fifth banking hub to be recommended in Suffolk, with the other four set to be in Haverhill, Leiston, Mildenhall and Woodbridge.
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Mr Cartlidge said: “I’m absolutely delighted by the news that Hadleigh will now be served by a banking hub.
“Access to cash and local banking services are still vital for many people in South Suffolk. Many now choose to bank online, but cash and in-person services are still vital for my constituents, particularly small businesses and more vulnerable citizens.
“In particular, I know that this will mean a lot to my constituents in Hadleigh given how we’ve lost significant banking access in the town over the last few years.
“Whilst the Post Office has been a crucial part of filling the gap left behind, I look forward to seeing how a banking hub can provide a further credible, day-to-day alternative to the traditional high street bank. This is good news for Hadleigh.”
Banking hubs are shared banking spaces, similar to a traditional bank branch, but available to everyone. When opened, the hub will consist of a counter service operated by Post Office employees, where customers of any bank can withdraw and deposit cash, make bill payments and carry out regular banking transactions.
There will also be private spaces where customers can speak to community bankers from their own bank for more complicated matters that require specialist knowledge or privacy.
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The banks will be working on a rotating basis and there will be staff from different banks available on different days.
Banking hubs can be recommended by LINK through a community request or following the announcement of the closure of the bank branch in a location.
Successful recommendations are determined by several factors including the number of shops in the area, demographics, and proximity to other banking services.
Councillor Jane Carruthers: “I am very pleased to hear that Hadleigh will be getting a banking hub.
“Although we have access to cash machines and some banking services in the Post Office it will be helpful for residents to be able to speak to community bankers from their own banks.
“Many older residents don’t use online banking and can’t reach remaining branches in neighbouring towns because public transport is so poor.”
Chris Ashton, chief commercial officer for LINK, added: “We’re always pleased to hear from the community, who know their town and high streets better than we do.
“After local elected representatives contacted LINK, we visited Hadleigh and we’re pleased to confirm today that a new hub will open – likely next year.”
