Stuart Anderson MP renews banking hubs campaign
Stuart Anderson MP has made a "cash access request" for Church Stretton, as the town stands to lose its only bank when Yorkshire Building Society on Sandford Avenue closes on 26th January 2025.
It is part of Stuart's banking hubs campaign to ensure that local communities in South Shropshire can continue to access banking services and financial products on their own high streets and town centres.
Stuart launched his campaign in January 2025, when Lloyds Bank announced the closure of its branches in both Ludlow and Bridgnorth. They each had 720 and 638 monthly customers.
The banking sector has committed to delivering 350 hubs by the end of the Parliament, which enable residents to deposit and withdraw cash, pay bills, and check their balance.
Almost 200 residents signed Stuart's petition calling for banking hubs in South Shropshire. Stuart said that this would enable residents to continue to deposit and withdraw cash, pay bills, and check their balances.
Since then, Stuart has been actively campaigning for banking hubs to ensure that residents continue to have access to essential cash and banking services.
However, South Shropshire has not yet been eligible for this support. Bridgnorth is still served by Nationwide and HSBC, while Ludlow retains Natwest and Nationwide branches.
LINK, which independently determines the location of banking hubs, said that it cannot recommend them in towns which still have at least one bank branch that offers services to local businesses and personal customers.
In a Westminster Hall Debate on the topic held in June, Stuart argued that the current criteria means that it watches the decline of our high street.
As Church Stretton stands to lose its only bank in the new year, Stuart believes that the town should be included in the rollout of banking hubs.
In October, Yorkshire Building Society announced that it will close its branch in Church Stretton on 26th January 2026. It had offered a range of services including mortgage and financial planning products.
This decision means that customers will have to travel to Welshpool, Newport, Wolverhampton, Stourbridge, or Bearwood in Birmingham to access in-person services.
LINK's Cash Locator Tool enables residents to search for nearby ATMs, banking hubs, and post offices that offer cash services.
According to the tool, Church Stretton residents will only have access to three access to cash services when Yorkshire Building Society closes: The Post Office on Sandford Avenue offers balance enquiries, Midcounties Co-Op on Lion Meadow offers withdrawals, balance enquiries, and PIN management and Longmynd Service Station offers withdrawals, balance enquiry, and PIN management.
Stuart has also called for a more proactive response to tackle the decline in access to cash across the whole constituency. He has urged the Chancellor Rachel Reeves to review the current assessment criteria.
Stuart Anderson MP said: "I want to ensure that our local communities can continue to access banking services and financial products on their own high streets and town centres. Following the closure of Lloyds Bank in Bridgnorth and Ludlow in January, I launched my campaign calling for the creation of banking hubs in South Shropshire.
"My petition received almost two hundred signatures, demonstrating the huge importance of continued access to cash services. Sadly, this was ruled out because they still have some banks on their high streets. However, I am worried that the current criteria means that it watches the decline of our high streets. That is why I have called on the Chancellor to review the assessment criteria.
"As Church Stretton stands to lose its only bank when Yorkshire Building Society closes in the new year, I believe that this town should be included in the rollout. This would enable residents to continue to deposit and withdraw cash, pay bills, and check their balances."
