LINK the not-for profit body who oversee cash access in the UK, have today announced that Kirkham will be the latest town to be recommended for a new banking hub, part of a Government backed scheme to improve cash access. Kirkham was once home to 6 bank branches but has had none since the close of these closed in 2019. In 2021 the Government supported proposals to establish ‘banking hubs’, offering in person cash, and banking services in a facility shared by banks on a rotating basis, with new hubs allocated following an application process.
Mark Menzies MP is driving Kirkham’s bid and, welcoming the news, the Fylde MP said “I met with LINK back in February to make the case for Kirkham’s inclusion in the roll out of these new banking hubs. With Kirkham fitting the criteria for a banking hub I was keen to get this over the line and I invited the LINK team to visit and see the town’s need for themselves, speaking with them while they were there.”
The main counter of the hub will be operated by the Post Office, offering customers from any bank cash deposit and withdrawal services as well as payments and other transactions. However, hub also provides private meeting spaces where customers can meet with representatives from their own bank to discuss more specific topics, such as loans, mortgages, or more complicated banking matters.
Commenting on what the announcement would mean for Kirkham, Mr Menzies said “Access to cash is key, particularly for older people or those in rural communities. Kirkham is the economic heart of rural Fylde and countless smaller communities and businesses rely on its high street. The town is already benefitting from the recently completed multi-million-pound Kirkham Futures project, something I was proud to help put together the funding package for.
Historic buildings have been refurbished, the town’s public spaces have been redesigned and we are seeing exciting events and public festivals held there. It is a hugely positive time for Kirkham and today’s news about this new banking hub is the latest step in the town’s rejuvenation. As the MP for Fylde I will continue working to deliver for Kirkham and Fylde as a whole.”
50 banking hubs have been opened so far across the UK, with the Government aiming to increase this to 240 by the end of the year. Cash Access UK will now take over the process of establishing the banking hub, deciding on a location, and guiding the application through the planning process. While this could take up to twelve months to complete, the aim is to see the new hub open at the earliest opportunity.