ILMINSTER Town Council is supporting its officers in their attempts to get a cash machine provider to change their decision regarding the provision of a banking hub in the town.
The council looked at ways to keep the local branch open and asked for the installation of a banking hub in town since Lloyd's Bank - the town's last bank - announced its closure date of August 14, 2024, in March.
Link, who administers the locations of banking hubs, stated that Ilminster does not qualify for a banking hub due to less than 7,000 people living within a kilometre of the town centre, and less than 70 retail businesses being situated within the same radius.
A spokesperson for Ilminster Town Council said: “At the full council meeting, the council reiterated its support to officers in their attempts to get Link to change their decision regarding not providing a Banking Hub in Ilminster.
“They were appreciative of efforts being made and recognised the decision to classify Ilminster as an urban town was both ill-considered and inaccurate.
“Ilminster is a Rural Market Town and serves a much wider community than just people living within 1Km.
“They hoped that Link would look at the proposed FSA guidelines for Banking Hubs as these would appear to indicate Ilminster’s suitability.
“They welcomed the news that efforts at a local, county, and national level were still being made in an effort to get the decision reversed.”
Councillor Adam Dance, the Lib Dem parliamentary candidate for Yeovil, said he contacted Matthew Maycock, Lloyds Bank complaint manager.
A Lib Dem spokesperson said: “Whilst not appearing to support a rethink on closing the branch, Mr Maycock does indicate that a Lloyds 'Community Banker' will be appointed and has asked for suggestions as to where this person can be located.”
Cllr Dance added: "The obvious answer to where the Community Banker should be placed is in a Banking Hub which can provide services across a range of different banks.
“LINK, the cash machine provider, must now be asked to reconsider the provision of a Banking Hub in Ilminster. “I will be contacting both LINK and Cash Access UK to ask them to look again at Ilminster and the need for in-person banking services for the wider community. "The nearest bank branches in Chard and Yeovil are not easy to reach, especially for those north of Ilminster and in the surrounding villages. “We need to ensure that all those who require, or prefer, direct contact with their bank can have this, and a Banking Hub would be a valuable resource for Ilminster as the population there grows."
MP for Yeovil Marcus Fysh said he would write to Lloyds Bank to express his disquiet about the closure of Lloyds Bank and the rejection of the request for a Banking Hub in a vital market town such as Ilminster.
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