With Natwest Bank being the latest to announce leaving Nelson town centre soon, it has prompted many discussions with PCCU account holders in branch whether we need Banks, Building Societies and our very own Credit Unions on the High Street
Many of the account holders who pop into our branches remark on bank closures, with many differing opinions. Some cannot understand why branches have closed at such a rate over the last 20 years. Just walking from PCCU’s Nelson branch on Manchester Road into the town centre you pass Marsden Building Society, Lloyds, HSBC (who also closed a branch in Morrisons supermarket a few years ago) and now Natwest who have vacated the high street. Many of our members enjoy coming into branch and see it as a real blow when another closure is announced.
Figures suggest that the UK has lost around half of the banks and building society branches nationwide in the last 20 years. One of the main reasons is clearly the increase, availability and usage of online and telephone banking services. Couple that with the reduction in use of physical cash.
We have seen a positive reaction since launching our online ‘Members Area’ where account holders can check balances, request withdrawals and apply for loans online, with around 20% of account holders using the online facility and these numbers rise weekly.
We hope that age old negative preconceptions of entering a Bank or Building Society do not put people off coming into PCCU branches; we would like to think we have a welcoming atmosphere- so pop in and see us!