Ten New Banking Hubs Planned for North East and Cumbria Amid Branch Closures

Efforts to tackle the impact of widespread bank branch closures have taken a step forward, with ten new banking hubs set to be introduced across the North East and Cumbria.

The proposed locations include Barnard Castle in County Durham, Cockermouth in Cumbria, and Whitley Bay in North Tyneside, as part of a wider initiative to ensure access to essential financial services for communities struggling with reduced banking facilities.

Bridging the Banking Gap

The hubs, operated by the Post Office and supported by major banks, offer key banking services such as cash withdrawals, deposits, and bill payments. They also provide scheduled visits from bank representatives, allowing customers to manage more complex transactions without the need to travel long distances.

Phil Dunn, a retired engineering director from Newton Aycliffe, regularly uses his local banking hub and believes it meets most of his financial needs.

“You can’t do everything in the banking hub, but you can do most things,” he said. “If we need to do anything greater, we go to the main branch in Darlington, but generally, nine times out of ten, we can do it here.”

Declining Access to Banks

According to research from consumer group Which?, the North East has lost 212 bank branches since 2015. Meanwhile, figures from Link, the national cash access network, suggest that around five million people in the UK still rely on cash daily, with many using it to manage household budgets.

Factors such as local deprivation and an aging population play a significant role in determining new hub locations, ensuring that those most affected by bank closures continue to have access to vital services.

Expanding Network of Banking Hubs

Several banking hubs have already been established, including in Newton Aycliffe (County Durham), Maryport and Ulverston (Cumbria), and a temporary site in Ferryhill (County Durham). The next wave of openings will add another ten locations, including Alnwick and Amble (Northumberland), and Crook and Stanley (County Durham).

The Need for Face-to-Face Banking

Despite the growing shift to online and mobile banking, experts say that many customers still value in-person banking support, particularly for handling complex financial matters.

Paul Culverwell, Banking Hub Director, highlighted the importance of face-to-face services:

“A lot of people really appreciate having a person in front of them to talk over concerns like mortgages and complex financial queries.”

As traditional bank branches continue to disappear from high streets, the expansion of banking hubs is seen as a lifeline for communities, ensuring that access to essential financial services remains available despite the digital shift.