Newcastle Building Society has bucked the trend of bank closures by opening a new branch in Pickering. This new branch will bring back essential banking services to the town and its businesses after recent bank closures left the town without a high street bank.
The Pickering branch in Market Place is a demonstration of Newcastle Building Society’s community-first approach. This is the Society’s 32nd branch and part of a major multi-year, multi-million pound investment in high streets and local communities.
More than just banking
As well as banking services the new Pickering branch has a multi-bank kiosk from OneBanx, a Glory service. This kiosk allows personal and small business customers to deposit and withdraw cash from their existing accounts even if they’re not a Newcastle Building Society customer. A lifeline for Pickering’s residents and local businesses who still use cash.
The kiosk is a big deal as other banks have been closing branches citing the move to digital banking. The new Newcastle branch opens just months before Barclays closes its Pickering branch in January 2025 leaving Newcastle Building Society as the only in-branch banking in the town.
Commitment to communities
Despite the high street bank closures across the UK, Newcastle Building Society’s approach seems to be hitting the right note. Their branch savings balances are growing at 7.5% – more than double the national average of 2.8%. This shows how important it is to have accessible, face-to-face banking in towns like Pickering.
Newcastle Building Society has had a financial advice office in Pickering since 2019. With the new branch the Society’s financial advice team will move from their existing office in Champley’s Mews to the Market Place branch, further cementing the Society’s position as a major player in local financial services.
CEO words
Andrew Haigh, CEO said:
“We’re pleased to open our new Pickering branch, we’ve had a financial advice office in the town for several years. By investing in branches we’re giving our communities the option of face-to-face financial services, an alternative to online banking and protection against financial exclusion.”
Haigh said the Society is committed to its members, the demand for local branches is still growing: “We think high streets are always better with branches and our new Pickering team is already out and about in the community.”
Local support and partnership
The new branch has also had support from local government. Kevin Hollinrake, MP for Thirsk and Malton said:
“I’m delighted Newcastle Building Society has opened a new branch in Pickering. This will bring much needed banking services to my constituents and cement the town’s position as a hub for local businesses and financial services.”
The OneBanx partnership has also been noted. Javed Anjum, CEO of OneBanx said:
“As the original provider of multi-bank cash transaction services in the UK, OneBanx bridges the gap between traditional banking and digital services. Our partnership with Newcastle Building Society is key to keeping cash in communities like Pickering.”
Bank closures
Since 2015 over 6,000 bank branches have closed across the UK, many in rural areas like North Yorkshire, leaving communities with limited access to financial services. Residents are forced to travel miles to get to a bank.
Newcastle Building Society is bucking the trend. By opening branches in under-served areas they’re showing they’re committed to face-to-face financial services. Other recent examples include the Society’s branches in North Shields, Knaresborough and Yarm where they’ve partnered with local charities and organisations to share space and become more embedded in the community.
Future plans
Next year the Society will open a new flagship community branch in Newcastle city centre and another in Tynemouth Library with North Tyneside Council. These further show the Society’s commitment to being in regional communities, combining financial services with other local amenities.
Summary
The new Pickering branch is a major milestone for Newcastle Building Society, as they’re the only society to balance digital innovation with high street banking. As other financial institutions pull out of local communities, Newcastle Building Society’s commitment to being in towns like Pickering sets them apart. Through partnerships with OneBanx and community branches they’re keeping financial services accessible to all, supporting residents and businesses.
For more information about Newcastle Building Society’s branch network and services, visit www.newcastle.co.uk.
