More banking hubs rolled out in North East and Cumbria

To compensate for the void left by the closure of local bank branches, more banking hubs will be launched in the North East of England and Cumbria.

Plans are in place to establish 10 new hubs, including Barnard Castle in County Durham, Cockermouth in Cumbria, and Whitley Bay in North Tyneside. These hubs are operated by the Post Office and supported by banks, allowing customers to deposit money, withdraw cash, and pay bills.

Phil Dunn, a retired engineering supervisor who uses the Newton Aycliffe hub in County Durham, said the center meets "most" of his banking needs. "You can't do everything in a banking hub, but you can do most things," he said. "If we need to do something bigger, then we have to go to the main branch in Darlington. But generally, nine times out of ten we can get it done here."

The hubs also offer customers the opportunity to speak with representatives from high street banks, with staff rotating from Monday to Friday, one day a week. Staff at the Newton Aycliffe hub said many customers are looking for an alternative to online banking. Paul Culfwell, Banking Hub Director, stated that there are still many people who want to discuss complex financial matters "face-to-face."

A 2024 study by consumer group Which? stated that 212 bank branches have closed in the North East of England since 2015. Link, a national organization responsible for recommending locations for banking hubs, said that 5 million people still rely on cash "day in, day out." "In places like Newton Aycliffe, lots of people use cash to budget," he said. He also stated that new hubs are being opened in the communities that need them most. "If there's a lot of deprivation nearby, if there's a big elderly population, those are the sorts of things that drive a need for cash, and when the bank leaves, we'll recommend a hub," Mr. Quin said.

In addition to the Newton Aycliffe hub, five other hubs have been opened in the region in Maryport and Ulverston in Cumbria, and a temporary location in Ferryhill. Another ten are in the pipeline, including Alnwick and Amble in Northumberland, and Crook and Stanley in County Durham.