MP "hugely disappointed" as Yorkshire Building Society confirms plans for Church Stretton agency closure

Stuart Anderson MP has expressed his "huge disappointment" following the announcement by Yorkshire Building Society (YBS) that it plans to close its agency in Church Stretton in the new year, sparking concern over the future of in-person financial services for residents across South Shropshire.

The agency, which operates from Wrights Estate Agents on Sandford Avenue, is scheduled to close its doors on 26th January 2026.

Yorkshire Building Society issued a six-month closure notice on 3rd October 2025, stating that the period would allow for consultation with customers, colleagues, and stakeholders.

If the closure goes ahead, customers in South Shropshire will face significant travel to access in-person services, with the nearest alternatives located in Welshpool, Newport, Wolverhampton, Stourbridge, or Bearwood in Birmingham.

In a letter to Mr Anderson, YBS justified the decision by citing a sharp decline in usage. They stated that the Church Stretton agency is "not well-used," having seen its customer base and transaction volume both halve over the last year. The letter noted the agency had 56% fewer active customers and 51% fewer transactions than the average YBS outlet and serves only a fraction of its total membership.

Across the country, YBS noted a wider trend away from physical branches, highlighting that only half of its customers used a branch or agency to open a new account last year, a stark drop from the 95% recorded in 2019.

Difficult Decision

A spokesperson for Yorkshire Building Society said: “Yorkshire Building Society has made the difficult decision to close our Church Stretton agency from 26 January 2026.

“While this agency is not well used, we understand customers who still use it may be disappointed. We have written to them to explain how they can continue to manage their accounts with us, whether that’s online, over the phone or face-to-face.

“While we remain committed to keeping a national network of branches and agencies, as a mutual owned by our members we always think carefully about how we invest their money to help people save and buy a home. This includes reviewing on an ongoing basis how people manage their money with us and use our branches and agencies.”

MP Implores Reconsideration

Mr Anderson has strongly urged YBS to reconsider the closure, emphasising the particular reliance on in-person services within his rural constituency.

"I am hugely disappointed that Yorkshire Building Society plans to close its Church Stretton agency in the new year," Mr Anderson said. "In South Shropshire, many residents continue to rely on in-person services for access to a wide range of financial and banking products. As such, I hope that this decision can be reconsidered."

The MP highlighted data suggesting that over 29,000 residents in South Shropshire are aged 65 or above—accounting for a third of the local population—confirming a continued need for face-to-face services. He also echoed warnings from the Countryside Alliance that bank closures in rural areas pose serious challenges, especially where mobile or broadband connectivity is unreliable.

While acknowledging that branch closures are "commercial decisions," Mr Anderson stressed that YBS must "carefully consider the needs of local residents."

YBS has pledged to offer personalised support and guidance to help vulnerable customers transition to online and telephone banking services. While welcoming this, Mr Anderson has implored the society to "urgently share more details about planned continuity of services."

Campaign for Banking Hubs Stepped Up

Following the news, Mr Anderson has vowed to intensify his ongoing campaign to secure banking hubs in local communities across South Shropshire.

The campaign was initially launched in January 2025 following the announcement of Lloyds Bank closures in Ludlow and Bridgnorth. The initiative has already garnered significant local support, with almost 200 residents signing a petition calling for the hubs, which aim to retain access to cash and essential banking services.

The MP has previously argued in a Westminster Hall Debate that he "does not want to wait until every bank to close before we get a banking hub."

"In the meantime," Mr Anderson added, "I will continue to campaign for the creation of banking hubs in South Shropshire." The campaign seeks to find a practical solution for residents who face increasing difficulty accessing vital financial services on the high street.