On 23 July 2019, local MP, Caroline Dinenage, met with Lloyds Banking Group’s Public Affairs Director, Benedict Brogan, to discuss the closure of Lloyds Stubbington branch.
Caroline expressed concerns for local people and small businesses in Stubbington which have received the unwelcome news that the last bank in the town will be closing on 2nd October.
Lloyds have advised that counter transactions at the Stubbington branch have reduced by 12% in the last year and more than 67% of customers use alternative branches, of which there are two within a five mile radius.
Caroline raised her concerns about the impact of the closure on the local area where elderly or vulnerable customers may entirely depend on accessible banking services close to home.
Lloyds have made arrangements with Post Office which means that customers can pay in cash and cheques, withdraw cash and request a balance statement but Caroline will continue to fight the closure of such valuable local amenities.
Commenting, Caroline said:
“Stubbington has been subject to a number of local bank closures, which I have campaigned against. While I understand that commercial pressures force banks to take tough decisions, if they continue to make these solely on the basis of diminishing footfall they could conceivably get to a stage where there are no branches left! I met with Lloyds to ask them to reconsider this decision.”