Bank closure is a ‘huge blow’ for town says MP

THE planned closure of Lloyds Bank in Royton will be a “huge blow” for the town says Oldham West and Royton MP, Jim McMahon.

 

Jim McMahon

The Market Street branch is scheduled to shut on September 25, 2018.

A review document outlining the reasons behind the closure states 66 per-cent fewer personal customers use Royton branch than a typical Lloyds Bank branch, and 62 per-cent fewer business customers.

It adds: “We continue to respond to our customers’ changing needs.

“We now have over 13 million of our customers accessing services through Internet Banking and over nine million using our mobile banking app.

“Branches will remain vital in meeting customers’ needs. But we must continually review our network to make sure we have branches in locations where customers need and use them the most.

“We have made the difficult decision to close this branch because customers are using it less often.

“In addition, the majority of customers are also using alternative ways to bank.

“When we close a branch we complete a detailed impact analysis which will include:
• How customers currently use the branch.
• Changes to customer use of the branch.
• Current levels of service provided by the branch including branch opening hours, ATMs.
• Assessment and check of alternative ways to bank locally including their proximity and accessibility. This is confirmed by a visit.
• Assessment of public transport, availability and frequency.
• Impact on our customers including those who may need additional support.
• Whether we own or lease the branch building.”

Customers are advised to use other Lloyds branches with the nearest at 16, Market Place, Oldham, OL1 1JG, which is 1.86 miles away.

But Mr McMahon MP was dismayed at the announcement and insists he will be calling for a meeting with the bank so they can explain the decision.

“This is a huge blow for Royton, where we have already seen the loss of bank branches in the town centre,” he said.
“Time and time again national banks are showing little regard for the needs and concerns of local people. They are too quick to protect their own private interests at the expense of their customers.

“Not everyone has access to online banking, and not everyone can travel the extra distance to other branches.
“For many residents – for example the elderly, disabled people or those who can’t afford internet access – they rely on local branches.

“I will be writing to Lloyds Bank to request a meeting and a full explanation as to why they have turned their back on their customers.”

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