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HOPE FOR BANKING SERVICES IN LLANRHAEADR

August 29, 2011 3:17 PM

Local Liberal Democrat AM William Powell has been fighting to save banking services in Llanrhaeadr-ym-Mochnant following HSBC's decision to close down their branch in the village.

Several weeks ago William met with Laura Brown, Regional Service Manager at HSBC, as well as the local County Councillor and representatives from the local Community Council.

William said, "I was very disappointed to be told at this meeting that HSBC were determined to close down the branch.

"The HSBC representative told me that the decision had been made because the Llanrhaeadr branch is 'one of the lowest performing branches' in the whole of the UK for HSBC.

"I was even more disappointed to be told that there was no form of community impact assessment carried out whatsoever, and that all such decisions are made on a purely commercial basis. This seems to me to be very much at odds with HSBC's own marketing slogan: 'The World's Local Bank'.

"Banking services in small rural communities are absolutely vital to their local economies. UK banks need to develop a policy specific to rural areas, rather than just adopting a one size fits all approach. In the coming months I shall be spearheading a campaign on this issue across the region.

"There is, however, some hope for maintaining some banking services in Llanrhaeadr-ym-Mochnant. HSBC have said that they are committed to maintaining a cashpoint in the village. I have been in regular communication with HSBC throughout August to ensure that they meet this commitment.

"I think that the ideal solution from the perspective of the local community would surely be a stand-alone cashpoint that could be used 24-7. However HSBC have concerns about this on the grounds of cost and security.

"Currently HSBC is negotiating with local businesses to try to install a cashpoint inside an existing business premises.

"I will keep in communication with HSBC in order to ensure that a satisfactory solution is found."