Too many bank branches have disappeared from our high streets, leaving many towns like Chadderton & Royton high and dry – whole communities without even basic banking facilities.
This is paying a price. The erosion of high street banking over the years has left gaps in accessible financial services. Residents and businesses have been significantly impacted by the closure in 2017 of the Yorkshire Bank in Chadderton and the closure in 2021 of Lloyds Bank in Royton.
We’ve been pushing hard for banking hubs to be brought to our communities. Last year I wrote to the Department of Business & Trade to request the criteria to change so that clear standalone towns like Chadderton & Royton get the local services they deserve. Before Christmas I met with the postmasters at both Chadderton and Royton Post Offices, who have been clear they would welcome hosting these facilities.
Banking hubs mean:
Face-to-face services
Support for small businesses
Help for older residents and those who can’t bank online
This is about keeping our town centres alive and making sure people aren’t forced to travel miles just to access basic banking.
I’ll keep making the case and won’t let this drop. Chadderton and Royton deserve better.
Jim McMahon OBE MP 