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Stalybridge branch of Yorkshire Building Society to close in March
Wednesday 31st January 2018 @ 13:57 by Tom Greggan
News Stalybridge Tameside

The Stalybridge branch of the Yorkshire Building Society is to close in March.

The Melbourne Street branch will close it’s doors for good at 5pm on Friday 15th March. It is one of eight branches closing nationally.

Yorkshire Building Society gave four reasons for the closure; a high concentration of branches in the area, many customers already using another nearby branch, fewer people using the branch with fewer transactions and customers using online or mobile banking.

Therefore, they say that keeping the branch open isn’t cost effective or providing long-term value to customers. All customers affected by the closure were written to this week.

A spokesperson for the Yorkshire Building Society said: “We understand that the decision to close Stalybridge is disappointing for colleagues and some of our customers, but it is not one we have made lightly. Following extensive research and careful consideration, we have concluded this will deliver greater efficiency and improved value to our 3.2 million customers.

“These changes are in response to our customers’ evolving needs and ensuring our high street network is more evenly spread across the UK, reducing branches in areas where we have a concentrated high street presence and expanding our agency network into 50 towns and cities where we have customer demand but no presence.

“We will continue to have four branches in the area – Ashton-under-Lyne, Oldham, Manchester and Stockport – which are all within 10 miles of Stalybridge, with Ashton-under-Lyne within three miles. Our members will also be able to use our online and telephone services.”

The news is a further blow to Stalybridge, which has also lost Lloyds Pharmacy on Friday.

Jonathan Reynolds MP

Stalybridge & Hyde MP Jonathan Reynolds MP said he was frustrated by the building society’s decision but added that they may live to regret it. “It is very disappointing to lose yet another banking facility from our high street,” he said. “I have met with Yorkshire Building Society about the closure and expressed my frustration with the decision.

“I asked that at a minimum they make efforts to mitigate the impact on vulnerable customers and local traders. To be fair to YBS, they have since been proactive in doing this, and have corresponded directly with constituents who have raised concerns with me.

“However, I think high street brands will really regret not investing in Stalybridge. It is a town on the up, as demonstrated for our bid for investment from Andy Burnham’s town centre challenge, and I’m confident our town benefit from exciting regeneration in the next decade, bringing new shops, services and footfall with it.”