Revitalised corner of Scotland that proves banking hubs CAN save the High Street

• Banking hub is breathing new life into Cambuslang’s High Street 
• Without relentless campaigning it would never have got off ground 
• Hub, set up three years ago in former butcher’s shop, was one of two ‘pilots’ 

Step off the train at Cambuslang in South Lanarkshire and you’re greeted by a multi-coloured mural welcoming you to the town.

It’s bold and brash, alluding to the area’s coal mining history, its monuments and glorious parks.

Cambuslang was once a thriving town, renowned for its steel making and the steel plates integral to ship building at Glasgow’s shipyards. The community, just 15-minutes by train out of Glasgow (Glaschu), is a shadow of its former self, but Cambuslangers don’t do self pity.

Not even the recent news that the town’s library is closing (council cuts) has deterred them. They are determined to fight back, to prove, against the odds, the Cambuslangs of this world can survive and thrive.

Driven forward by a passionate local community council (all volunteers), the town has been spruced up with battalions of planters set to burst into flower. Its pavements have also been fixed so that they can be safely walked on. Little improvements, but important ones.

And in among the pubs, betting shops and fast food outlets, a banking hub is breathing new life into the town’s high street. Without the relentless campaigning of the community council, it would never have got off the ground.

‘It has been mighty hard work,’ admits the council’s chair John Bachtler who with his lieutenant Mark Lauterberg made the hub happen. ‘None of the banks wanted to support Cambuslang, but the success of the hub proves that high street banking services are an essential piece of the community’s jigsaw.’

The hub, set up just over three years ago in a former butcher’s shop, was one of two ‘pilots’ (the other was in Rochford, Essex). Today, 47 hubs criss-cross the country while a further 75 have been approved.

One-stop community banks facilitate basic banking needs for businesses and personal customers from all banks. You can deposit cash and cheques, withdraw cash and pay bills. Community bankers from the leading banks are also on site on selected days to help with more complex needs.

Funded by the banks and operated by the Post Office, the hubs can only be opened in communities where all banks (as well as building society Nationwide) have shut their branches.

Even then, hubs can only be approved if it is deemed that there will be sufficient demand for services. In Cambuslang’s case, it lost its last bank, TSB, five years ago.

Sceptics believe that the banking giants see hubs as a short-term measure, designed to head off criticism of the immolation of branch networks. As demand for high street banking declines, the hubs (most on short-term leases) will then be shut, leaving consumers with no choice but to go digital.

Yet Cambuslang is proving that hubs are not mere stop-gaps, but a vital cog that enables communities to function better.

Since it was opened, usage has grown with current daily transactions averaging 120, compared to an average of 97 since launch. In total, more than 70,000 counter transactions with a combined cash value of £21 million have been processed through the hub. Judging by the number of people who used the hub when I visited on a rainy Friday, it is popular. A steady trickle of people, of all age groups, came in to deposit cheques or withdraw cash and a number of retailers visited to get cash out ahead of a weekend of trading.

Freelance musician Jennifer Stephenson came in to bank some cash. The 40-year-old, an accomplished clarinet player, says the hub ticks so many boxes. It’s good for our community,’ she says. ‘It encourages people to spend here rather than in Glasgow or Rutherglen. It’s also good for the elderly who prefer face to face banking.’

Jennifer Taylor, a 39-year-old primary school teacher, is also a fan. She banks with Santander which has a branch in Rutherglen, but the Cambuslang hub is more convenient for her banking. She says. ‘It’s fantastic to have a banking service on the doorstep.’

Jean Austin, 65-year-old owner of local card and gift shop Pandora’s Box, uses the hub to get cash and bank takings. She adds: ‘My customers prefer to pay by cash. The hub is good for them, my business and for the community.’ Liz Maclean, 57-year-old manager of local pub Finlays, agrees. She uses the hub to bank takings three times a week.

‘My local bank branch was turned into a Costa Coffee. I live here and love it, but it has its challenges. Unemployment is a problem. Parking is an issue and the high street has too many bookies and fast food shops. The hub is one of the best things to open here for years.’

Hubs only provide basic high street banking services. But with a little imagination (and give) from the banks, they could be improved. A minority open on a Saturday when demand for services might be higher. Hopefully, this will change in the future.

Rules governing where a hub can be opened mean that in some communities where Nationwide remains, small businesses are disadvantaged as the building society doesn’t offer business banking.

Towns chosen for hubs are decided by cash machine network Link, according to strict criteria. Gareth Oakley, chief executive of Cash Access UK, the organisation funded by the banks and responsible for putting the hubs in place, says: ‘Cambuslang shows how much people value face-to-face banking – and it shows the life a hub can bring to the community.’

As for councillors John Bachtler and Mark Lauterberg, their quest for Cambuslang goes on. They want the hub to embrace the credit union, a debt counselling service and a library. Mark says: ‘We won’t lie down until Cambuslang has the services in place to thrive again.’

I wouldn’t bet against this determined pair succeeding.