Call for community banks to be set up in the area

More community banks are needed in the area to counter the closure of many high street banks.

That's a call made by Montgomeryshire's Member of the Senedd, Russell George.

Several banks have closed their doors in towns including Llanfair Caereinion, Montgomery, Llanidloes and Welshpool over the years.

Mr George has been a longtime advocate for a community banking model supported by government and has been vocal in his support for Banc Cambria who want to introduce physical banks into local communities that supply everyday retail banking services.

Mr George raised a question on community banking services in the Senedd, pressing for an update on the proposals.
 
Following his question this week in Welsh Parliament Russell George MS said: “I am keen to keep campaigning to see face-to-face banking services on our high streets once again. Bank branch closures have had such a detrimental impact for communities and customers, especially those who are elderly and disabled, but there are also wider implications for the local business”

'' I've been a long-time advocate for Government intervention and support for a community banking model that would see physical banks opening once again on our High Streets.”
 
“Whilst banks have pointed out the use of online banking there remains a strong need for the presence of high street banks.”
 
“With the progress of Banc Cambria, I would like to see towns such as Llanidloes, Machynlleth and Welshpool being considered for Banks to open once again on our high streets."