Easington MP Grahame Morris has joined a Community Action Group campaign to save the last remaining bank facilities in Murton and Horden.
TSB plan to close 164 bank branches with Murton and Horden scheduled to close on 10 March 2021 and 23 February 2021, respectively.
The TSB branch closure programme is part of a three-year business strategy announced in November 2019 in response to changes in the way customers are using services, with a growing shift towards digital banking.
Murton and Horden TSB branches have little over 35 customers regularly using each service weekly; however, Mr Morris has challenged these figures, noting the restricted opening hours.
TSB highlight that the Post Office offers a number of day-to-day banking tasks for personal and business banking customers.
Easington MP Grahame Morris said:
“Online banking is useful and convenient for those who can use it. However, there are significant numbers of people and businesses in Murton and Horden that cannot access digital banking services.
By their own admission, TSB recognises that one in four of their customers at Murton and Horden have not visited another branch or used alternative banking services. More than a third of customers have never used online, mobile or telephone banking.
TSB are failing their customers by closing the last remaining branches in the Easington constituency. I am disappointed that TSB has followed other financial institutions by abandoning community banking.
The UK network of bank branches is now concentrated within cities, denying millions of customers easy access to financial services. In light of this market failure, the government should introduce a banking service standard to improve access to face to face financial services.”
Robert Adcock-Forster, Murton TSB Community Action Group said:
“TSB has an opportunity to market themselves as a customer-focused community banking service. In communities like Murton and Horden, they should be seeking to extend opening hours and services, and winning new personal and business banking customers.
The Post Office provides a fantastic service to the community; however, they are primarily a postal service and not a financial service.
There are a number of vulnerable customers in Murton and Horden that cannot access alternative bank branches or use online banking facilities.
I am delighted to have the support of Grahame Morris MP, and a local petition will demonstrate the communities support for retaining our last remaining bank branch.
While it will be difficult, I hope we can get TSB to reconsider their decision and support our vital community banking service.”