New banking hubs will be available in two County Durham towns following the announcement that their final banking branches will close.

LINK have announced they will be bringing banking hubs to Stanley and Spennymoor following yesterday’s (June 27) announcement the bank branches in the towns would be closing.

The new hubs will consist of a counter service, operated by Post Office employees, where customers can withdraw and deposit money, make payments, and carry out day-to-day bank transactions.

They have also confirmed private spaces will be available where customers can speak with community bankers on specialist subjects.

Chris Ashton, CCO of LINK, said: “We’re pleased to recommend this new hub in Stanley.

“Many people locally still need cash, and this hub will play a crucial role in helping them access it on the High Street.  

“We’re determined to make sure that, as we all choose new ways to pay, people who use cash in places like Stanley have the benefit of a convenient, accessible location to access and deposit cash on the high street.”

A spokesperson for LINK said: “Following today’s announcement of the closure of the final bank branch in Stanley, LINK has confirmed that the town will benefit from a new banking hub as part of a wider commitment to protect access to cash.

“Banking hubs are a shared banking space, similar to a traditional bank branch, but available to everyone. The hub will consist of a counter service operated by Post Office employees, where customers of any bank can withdraw and deposit cash, make bill payments and carry out regular banking transactions.

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“In addition, there will be private spaces where customers can speak to community bankers from their own bank for more complicated matters that require specialist knowledge or privacy. The banks will be working on a rotating basis, so there will be staff from different banks available on different days.”

LINK has recommended 146 banking hubs so far. There are currently 60 banking hubs up and running in the UK.

The new banking hubs will be delivered by Cash Access UK and open in 12 months time.