A Wiltshire councillor set to become Mayor this year has called for a town banking hub after another bank bites the dust.
Marlborough is preparing to say goodbye to its last High Street bank after Lloyds announced in March 2024 that it would be making nationwide closures.
The news, which comes after HSBC closed its doors on Marlborough High Street in 2017 and the Barclays branch closed in 2021, has caused concern in the community that soon there will be no banks left.
Now Councillor Kym-Marie Cleasby, who will take over as Marlborough Mayor for 2024/2025, has called for a banking hub in the town to help the community cope with the closures.
"We are determined that Marlborough residents retain the banking services they need," said Councillor Cleasby.
"The process is in its earliest stages, but it has a lot of support in Marlborough and surrounding villages and is fully supported by the entire council."
Banking hubs are becoming increasingly popular in Wiltshire, with Royal Wootton Bassett being the most recent town to have received one.
Unlike a traditional bank, a banking hub offers a counter service where customers of all major banks and building societies can carry out cash transactions.
They also offer a ‘community banker’ service, where representatives from different banking groups are available for customers to talk to their own bank about more complicated issues.
When Lloyds closes its Marlborough branch on November 25, the only remaining banking facility in town will be Nationwide Building Society, which has confirmed its commitment to the town for at least three years but as a building society, does not offer business banking services.
But it is currently unclear if Marlborough will be eligible for a banking hub while Nationwide is still operating in the town.
"We have now put in an application to Cash Access for a community banking hub and await the outcome," confirmed Councillor Jane Davies.
"There is some advice online that having a Nationwide Building Society in the community rules out also having a Community Banking Hub, so I have written to Cash Access to find out if this is indeed the case, if so, why?"
No location has yet to be put forward for the potential banking hub if the application is approved.
"Many smaller businesses have already been forced to go to cashless sales due to the lack of cash banking facilities and/or night safes, and this would likely increase after Lloyds closes," said a spokesperson for Marlborough Town Council.
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