Southport Co-operative bank set to close

The London Street branch of the Co-operative bank will close its doors for the final time on June 6.

A spokesperson for the banking chain confirmed that bosses were forced to make the reluctant closure decision as park of an ongoing campaign to ‘turn the firm around.’

It’s believed that a decline in the number of customers using the branch on London Street, plus a rise in online banking has led to the closure.

Commenting on this closure of Southport branch, Liam Coleman, Director of Retail and Commercial Bank at The Co-operative Bank said: “We have always been very clear about the need to reduce the branch network to a size that is consistent with a smaller, sustainable bank as part of our business plan to turn the Bank around.

“These decisions are never easy but continuing to reduce our costs is necessary as we seek to restructure and modernise the Bank and, unfortunately, this includes closing branches where the number of transactions has declined significantly, meaning it is no longer sustainable.

“Although, like all banks, we will need to keep our branch network under review as the switch to digital increases, this is the last stage of significant branch closures as part of the Bank’s transformation.

“We have sought to keep the impact on our customers to a minimum and are writing to affected customers giving them advance notice  about these changes and the alternative options available to them.

“Alongside online and mobile banking facilities, all closing branches are within three miles of a Post Office branch where customers can undertake most day to day transactions, and in many cases much closer.”

The branch will close for the final time on Monday June 6.

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