The Co-Operative Bank has this week defended its decision to shut down its Burnham-On-Sea branch.
As we first reported here at the weekend, the bank has confirmed that it is shutting its College Street branch in Burnham on May 5th.
Commenting on the closure of the branch, Liam Coleman, Director
Retail and Commercial Bank at The Co-operative Bank, told Burnham-On-Sea.com: “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.”
