Rushden bank to close - the fourth in one year

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A total of four banks will have shut in the town in one year

A day after one of the remaining banks left in Rushden High Street closed its doors, another bank has announced it will be shutting for good.

Lloyds Bank at 37-39 High Street will close on June 28 the fourth Rushden bank branch to close in a year following announcements by NatWest, which closed yesterday (March 22), Barclays and TSB.A document produced to justify the closure said: "Following an in-depth review, this branch will close on June, 28, 2022.

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"Our customers’ needs are changing. Almost 18 million people now bank with us through internet banking and over 13 million use mobile banking.

Lloyds Bank High Street branchLloyds Bank High Street branch
Lloyds Bank High Street branch

"Branches will remain vital in meeting customers’ needs but we must continually review our network to make sure we have branches in locations where customers need and use them the most.

"As a result, we've 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."

The bank said it completed a 'detailed impact analysis' which included how customers are choosing to bank, how often customers use the branch and how that usage is changing.

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Data from the year to November 2021 and the four previous years were used - a time span that included the Covid pandemic and lockdowns.

They also take into account the number of alternative ways to bank including their proximity and accessibility, assessment of public transport's availability and frequency, the accessibility to broadband and the impact on customers including those who are 'vulnerable or may need additional support'.

Analysis showed that 193 customers regularly used the branch in from November 2020 to November 2021. Of those, ten per cent were business customers.

The Rushden branch of Lloyds Bank is one of 60 branches across the UK that will closed, resulting in 124 job losses in total.

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Unite, the union representing staff at Lloyds Banking Group (LBG), has today (Wednesday, March 23) said more local communities will have their heart ripped out following the announcement of a further 60 bank branches.

Caren Evans, Unite national officer said: “Lloyds Banking Group must not be allowed to abandon 60 more local communities where bank branches play an essential role.

"The 124 employees who work tirelessly in their communities are dedicated to serving the banking needs of the most vulnerable who depend on their skilled services.

“When a bank branch closes the heart of the local community is ripped out and the results are devastating. Unite is clear that simply leaving an ATM in place of a vibrant bank branch is wholly insufficient.

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“The banking sector needs to answer some serious questions about its corporate social responsibilities and the government cannot stand back and allow the relentless closure of banks to continue until no more local banking services remain.”

In Rushden Barclays closed its College Street branch on July 2, 2021, NatWest closed on March 22, TSB will shut on April 21 and Lloyds will close on June 28, 2022.

There are just two remaining bank branches - HSBC and Nationwide.

The branch announcement today will impact the following locations: Edgbaston, Rushden, Beaconsfield, Chandlers Ford, Colchester St Johns, Cottingham, Knutsford, Liverpool Woolton, Marlow, Lyndhurst, Oxford Summertown, Swanwick, Tiptree, Aylesbury Gatehouse, Shanklin, Shrewsbury Mount Pleasant, Bolton Westhoughton, Poulton-le-Fylde, Morriston Swansea, Chipping Campden, Bradford Thornbury, Smethwick, Buckingham, Birmingham Temple Row, Belfast Shaftesbury, Abingdon, Beccles, Bideford, Dunstable, Finchley Central, Margate, Morriston, Totton, Wokingham, Worcester Park, Yeadon, Devizes, Beaconsfield, Penge, Doncaster Mkt Pl, Halifax Commercial St, Carluke, Clarkston, Dyce, Dunblane, Forres, Edinburgh Barnton, Edinburgh Shandwick, Troon, Alness, Brechin, Kirkcudbright, Innerleithen, Lockerbie, Selkirk, Broxburn, Glasgow Riddrie, Shotts, Stromness and Aberdeen 201 Union St.