MP for Totnes and South Devon Anthony Mangnall has welcomed the news that Brixham has been named as one of five places in the UK that will receive a ‘shared banking hub’. The community has been identified by the Cash Action Group as being in need of better access to cash and basic banking.
Following the announcement earlier this year that the last bank in Brixham was set to close, Anthony Mangnall MP has been fighting to save banking services in the town. The new banking hub will be available for everyone in the community to use, whichever brand they bank with, and will be funded entirely by the major banks.
The hub will offer a counter service for transactions, currently provided by the Post Office, alongside face-to-face banking support from a ‘Community Banker’, provided by the largest retail banks. The banking hub concept has been trialled over the past year in Rochford (Essex) and Cambuslang (Lanarkshire), where they have been universally welcomed by consumers and small businesses alike. Early analysis has found that the Hubs saved vulnerable people time and money, made life easier for small businesses and helped improve the viability of communities which had struggled with banking and cash services. In fact, the pilots have been so successful, the two Hubs are being kept open until at least 2023.
Anthony Mangnall MP said:
“Since the last bank in Brixham closed its doors earlier in 2021, I have been campaigning for a ‘Banking Hub’ to be based in Brixham. I am delighted that this campaign has been successful and I am particularly grateful for the support provided by Brixham Town Council.
This new banking hub will provide financial services to local residents, businesses and visitors alike. It will ensure that Brixham remains a place to do business, with comprehensive services that can help to attract investment and development. The Cash Action Group recognises Brixham’s true potential and I am pleased that the local community will not be cut off from financial services.
From early January 2022 I will be working with local groups to deliver this service and I look forward to seeing the Banking Hub open as soon as possible.”
Cllr Paul Addison, Chairperson of Brixham Town Council said:
Brixham Town Council welcomes the news that Brixham has been identified as a community that needs better access to cash and basic banking. The Town Council has been concerned for some time now at the lack of banking provision, which has been particularly highlighted with the closure of our last remaining bank. We are extremely grateful to our MP, Anthony Mangnall, for listening to our concerns at a recent meeting and supporting Brixham to achieve a shared banking hub. We are confident that this initiative will support our community and look forward to working with our MP and Cash Action Group to ensure this project is realised.