MP 'disappointed' as building society announces its closure in South Shropshire
A Shropshire MP has lamented the impending closure of a building society in his constituency, after it announced it is shutting next year.
Stuart Anderson has said he is "hugely disappointed" that Yorkshire Building Society plans to close their agency - the branch is located inside an estate agents - in Church Stretton in the new year.
On October 3, the building society issued a six-month closure notice, which they said will allow consultation with customers, colleagues, and stakeholders.
They say that in-person use in the agency was half other branches.
The local building society, which is located at Wrights Estate Agents on Sandford Avenue in Church Stretton, is scheduled to close on January 26.
The building society offers a range of services including various mortgage options, products to help residents save money, and financial planning tools at more than 200 branches and agencies across the UK.Should the agency close, customers from South Shropshire will have to travel to Welshpool, Newport, Wolverhampton, Stourbridge, or Bearwood in Birmingham to access in-person services.
Yorkshire Building Society said that only half of their customers across the country used a branch or agency to open a new account last year. In 2019, this figure stood at 95%.Yorkshire Building Society has said that they will offer personalised support and guidance to help vulnerable customers use online and telephone banking services.
In a letter to the MP, Yorkshire Building Society said that customers and transactions are much lower than other branches.
They added: “The closure of the Yorkshire Building Society agency is scheduled to take place on January 26, 2026. Compared to other Yorkshire Building Society outlets, the agency in Church Stretton is not well-used.
“Last year, it had 56% fewer active customers and 51% fewer transactions than the average branch or agency.
The news comes after Lloyds Bank closed its branches in Ludlow and Bridgnorth in May, citing a significant drop in in-person banking.
Mr Anderson had appealed for a 'banking hub' to be established in the towns and even raised his concerns in Parliament. Banking group LINK turned down the proposal.
The MP has now has asked Yorkshire Building Society to reconsider its latest closure.
He said: "I am hugely disappointed that Yorkshire Building Society plans to close its Church Stretton agency in the new year. 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.“As part of my plan to support local communities, I want to ensure that areas like Church Stretton can continue to access high street banking services and financial products.
“While decisions to open or close branches are of course commercial decisions for firms, I hope that Yorkshire Building Society carefully considers the needs of local residents.
“As you may know, the Countryside Alliance has warned that bank closures in rural areas, especially in the absence of reliable mobile or broadband connectivity, can present serious challenges. This is particularly the case for older people.“In South Shropshire, more than 29,000 residents are aged 65 or above. This accounts for a third of residents, confirming the continued reliance on and need for in-person services.
“If the closure must go ahead, I hope that Yorkshire Building Society will minimise the impact on residents as much as possible. To that end, I am encouraged that Yorkshire Building Society plans to offer personalised support and guidance to help vulnerable customers use online and telephone banking services. I would implore you to reconsider this decision and, at the very least, to urgently share more details about planned continuity of services. I hope to receive your response at the earliest possible opportunity."
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.”
