DUMFRIES and Galloway MP John Cooper is backing a new law for more banking hubs.
He has co-sponsored a Bill in Parliament which would change the law to allow an expansion of hubs so consumers have better access to face-to-face banking services.
Over the past decade, more than 6000 bank branches have closed across the UK, including in Dalbeattie, Castle Douglas and Wigtown. Other branches that have been announced for closure this year include Santander in Stranraer, which is due to shut on May 13.
LINK, the organisation that decides where banking hubs can open, has carried out over 1,600 assessments in communities. However, many such as Wigtown and Dalbeattie never reach that stage – and miss out completely. Under current rules, communities are often deemed to have sufficient banking provision if there is access to cash within one kilometre of the local high street.
This Bill will change the law so LINK must consider the need for access to face-to-face banking services – not just access to cash or cash machines – when deciding where hubs can open.
The Bill’s long-term aim is ensuring every town or village with a population over 10,000 is eligible for face-to-face banking services through a hub.
John Cooper said: “I’m proud to play a key role in backing a change to the law that expands eligibility for banking hubs in our community and across the country.”