Mole Valley Submits Application for Banking Hub

Mole Valley District Council Submits Application for Banking Hub Following Updated LINK Process

Since July 2022, Mole Valley District Council (MVDC) has been advocating for banking hubs to replace closed bank branches in the district. The updated LINK process allowed MVDC to submit a new application to assess the suitability of banking hubs in areas where Nationwide is the last remaining branch.

MVDC is progressing its efforts to secure a banking hub for local communities after being invited by LINK to submit a new application under their updated process. This follows the closure of multiple bank branches, leaving many residents and small businesses without adequate banking services.

Banking hubs offer shared spaces where customers of all major banks can access essential banking services, including cash withdrawals, deposits, and bill payments, providing a much-needed solution in communities affected by branch closures.

The updated LINK process, effective from 19 September 2024, now allows for the assessment of banking hub suitability in areas where Nationwide is the last branch in town. This is a significant development for Mole Valley, particularly for towns like Dorking and Leatherhead, where access to banking services has been heavily impacted.

Councillor Stephen Cooksey, the Leader of MVDC said: ‘We know how vital access to banking services is for our residents and small businesses, especially considering the recent branch closures. Securing a banking hub would provide a much-needed solution, ensuring that our community can continue to access essential financial services. We’re encouraged by LINK’s updated process and hopeful that this application will help bring banking hubs to Dorking and Leatherhead. We will continue to work closely with LINK to ensure the best possible outcome for our residents. I’ve also asked our MPs, Chris Coghlan and Helen Maguire for support with this important matter, impacting our community.’

‘You can find more information about what we have done to date on Mole Valley for Business website.’