'Urgent intervention is needed' - MP 'devastated' after south Shropshire 'denied' banking hub and vows to appeal
"Urgent intervention" is needed in south Shropshire after the area was "denied" a banking hub while bank branches still serve the area, an MP has said.
South Shropshire MP Stuart Anderson said he is "devastated" and has vowed to launch an appeal after towns in his constituency were refused a banking hub by LINK.
It comes after hundreds of residents signed a petition by the MP calling for a banking hub to be set up in his South Shropshire constituency following the closure of Lloyds bank branches in Ludlow and Bridgnorth.
Mr Anderson said the petition also received backing from residents in Church Stretton, Cleobury Mortimer and surrounding areas where residents have been affected by the closures.
The Conservative MP submitted his petition to LINK, which decides where new banking hubs are needed, in May. But, after assessments of Ludlow and Bridgnorth, LINK has deemed that the towns are not eligible for a banking hub.
LINK stated it "cannot recommend" a banking hub in each town due to them still having bank branches that serve local businesses and personal customers. LINK noted that Bridgnorth is still served by Nationwide and HSBC, while Ludlow retains NatWest and Nationwide branches.
Mr Anderson said he was also told that should there be any further changes to the level of cash access in the towns and further services stripped, another assessment would be carried out.
However, the Conservative MP has disagreed with the assessment, saying current criteria "watches the decline" of high streets.
Speaking in Parliament on Wednesday (June 25), Mr Anderson said he did not "want to wait for every bank to close" before South Shropshire has a banking hub set up.
Stuart Anderson MP said: "Access to cash and financial services is vital part of everyday life in a rural economy like ours in South Shropshire. Almost 200 residents responded to my petition calling for banking hubs in South Shropshire.
"I am devastated that this has been ruled this out. With the recent closure of Lloyds Bank in Ludlow and Bridgnorth, urgent government intervention is needed. I am appealing this decision and have used a key debate in Parliament to call for the eligibility criteria to be reviewed. Urgent action must be taken to stop our rural areas from becoming banking deserts."
LINK's assessments of both Bridgnorth and Ludlow, and of other areas in the country, can be found here.
