CONCERNS have been raised following the announcement that Colwyn Bay's Lloyds Bank branch will close later this year.
The banking giant has confirmed plans to shut 31 Lloyds, 10 Halifax and 15 Bank of Scotland branches between April and October 2020 – including the Colwyn Bay branch of Lloyds on Conway Road, which is expected to close on June 30.
Clwyd West MP David Jones says he is "extremely concerned" to hear the news of the closure.
He said: “I fully understand that people are changing the way that they use banks and increasing numbers are using the internet. However, Colwyn Bay is an area with a large number of elderly people.
PICTURE: Clwyd West MP David Jones
"There have already been closures of branches in Rhos-on-Sea and the closure of a major branch will be a severe blow, as it will to businesses in the town.
"I have written to the bank seeking a meeting with senior staff to discuss the matter further."
Clwyd West Assembly Member Darren Millar has also expressed his disappointment that another bank in his constituency is set to close.
Criticising the move, he said: "North Wales is set to lose yet another bank – I can hardly keep up with all these closures.
“I am disappointed the Lloyds have not considered their customers more before making their decision, particularly the elderly and more vulnerable, for who it is not always easy to travel to another branch. The nearest branch for Colwyn Bay customers is just over 5 miles away in Llandudno, which is quite a distance.
“These constant closures do nothing to enhance the image of the banking industry. I appreciate that banks have to move with the times, but this is a devastating blow to Colwyn Bay, which last year also suffered the loss of Halifax and the year before that the Royal Bank of Scotland.
PICTURE: Clwyd West AM Darren Millar
“Having an accessible local branch is important for not only for older and more vulnerable people, those without transport, or internet access, but also shopkeepers and small businesses. Towns are trying to attract businesses, but moves like this will do nothing to encourage them to come to North Wales.
“I will be writing to Lloyds to outline my concerns and to urge them to reconsider.”
Lloyds Bank staff were informed on Wednesday morning and in an email to Darren the Bank said they will “be writing to customers shortly” to confirm the news.
On the bank’s website, the closing review for the bank reads: “Our customers’ needs are changing. Nearly 16 million people now bank with us through Internet Banking and over 10 million use Mobile Banking. 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 due to customers using it less often. In addition, the majority of customers are also using alternative ways to bank and we have another branch close by.”
The review adds that the nearest alternative branch is in five miles away on Mostyn Street, Llandudno or the Rhyl branch based almost 10 miles away in Denbighshire’s Queen Street.
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