Lloyds Bank has confirmed it will close its Coalville branch, the final remaining high street bank in the town.
That matters.
Yes, we still have two building societies. Yes, the world has changed. I’ve personally banked with Lloyds for over 15 years, both personally and in business, and in that time I’ve probably stepped into the branch half a dozen times. That reflects a wider reality: footfall has dropped dramatically. Apps are better. Online services are quicker. For many people, the traditional bank counter simply isn’t part of daily life anymore.
From a commercial perspective, I understand the decision.
But public policy cannot simply shrug and say “that’s the market.”
There are still older residents who rely on face-to-face support. There are vulnerable people who are not confident online. There are small businesses who handle cash and need deposit facilities. And there is the wider question of what happens to our town centres if essential services quietly disappear one by one.
Two years ago, during the General Election campaign, I said clearly that I could see the writing on the wall. I made a commitment that if elected, I would push hard for a Banking Hub in Coalville, a proactive solution before we reached this point. I narrowly missed out, and that early push from Westminster never materialised. Instead, we now find ourselves reacting to an inevitable closure.
Petitions may make people feel better, but they won’t reverse a commercial decision already taken.
What will make a difference is securing a Banking Hub model, like the successful hub now operating in Ashby. These hubs, delivered through the Post Office and LINK network in partnership with major banks, provide shared counter services and rotating bank representatives. They are pragmatic, cost-effective, and increasingly the national solution to branch closures.
I do not have the direct authority to impose a Banking Hub on Coalville. But I do have the ability to convene, to lobby, and to push.
I have already written to the Leader of North West Leicestershire District Council, Cllr Richard Blunt, to begin identifying suitable premises in the town centre. I will engage with LINK, local stakeholders, and cross-party colleagues to make the strongest possible case.
This is not about party politics. It is about ensuring Coalville is not left behind.
Where others react, I prefer to act early.
Coalville deserves access to essential financial services, and I will work with anyone, of any party, to make that happen.
