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Lloyds Bank to close its Stalybridge branch in September
Tuesday 17th April 2018 @ 15:10 by Tom Greggan
Business News Stalybridge Tameside

Lloyds Banking Group is to close its branch in Stalybridge later this year.

As part of 49 branch closures across the UK, affecting 305 jobs across the business, the branch on Melbourne Street on September 18th.

It’s a further blow to the town and Melbourne Street in particular, which has lost big high-street names such as Lloyds Pharmacy and Yorkshire Building Society in recent months.

A Lloyds Banking Group spokesperson said: “We have confirmed the locations of some Lloyds Bank and Halifax branches which will close between July and October this year. These branch closures are in response to changing behaviour and the reduced number of transactions being made in branches.”

“We are also announcing that our mobile branch service will be expanded to support customers in more locations with the introduction of seven new Lloyds Bank mobile branches. This will bring the Group’s total number of mobile branches to 36 which will serve over 180 communities. All branches announced for closure have a Post Office within short walking distance so customers can still access their banking locally.”

“We are proud to have the largest network of branches in the UK and we are committed to maintaining our market share of one in every five branches.”

In a ‘Closing Branch Review’ posted on their website, Lloyds say that counters at the Stalybridge branch are 23% quieter than they were last year. According to their figures, just 53 customers use the branch on a regular weekly basis, but 524 use it on a monthly basis.

It reads: “Following a careful review, Stalybridge branch will close on September 18th 2018. 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.”

56% fewer personal customers use the Stalybridge branch than a typical Lloyds Bank branch, while the figure for business customers is 60%.

Lloyds also say that 65% of customers in Stalybridge use other Lloyds Bank branches.

Stalybridge customers will now be forced to use branches in Ashton (1.87 miles away), Hyde (2.79 miles away) or Oldham (5.57 miles away).

Jonathan Reynolds MP

Stalybridge & Hyde MP, Jonathan Reynolds, expressed his frustration at the closure, which he called “short-sighting” and “disappointing”.

He said: “I understand the use of internet banking is increasing but the big banks are shutting too many branches and not thinking enough about the full range of their customers. These decisions have an impact – we know, for instance, that lending to local businesses suffers when a branch is closed.

“The Labour manifesto at the last election had proposals in it to ensure banks had to undertake a proper consultation if they wanted to close a branch and to ensure that none of their customers would be disadvantaged.

“I would like to see the Government take this up, because towns like ours are suffering. Big things are happening for the future of Stalybridge and short-sighted decisions like these are extremely disappointing.”