A community in Carmarthenshire is set to lose its last bank with the impending closure of a branch which first opened more than 100 years ago. Lloyds Bank in the village of Tumble, between Carmarthen and Llanelli, first opened in 1906 but will close its doors for the final time in August.
It is one of 39 Lloyds Bank branches across the UK which will close in the coming months - with the blame being put on dwindling face-to-face customer numbers as more and more people bank digitally, thanks to the continuing popularity of mobile, app, and online banking. You can keep up to date with the latest Carmarthenshire news by signing up to the local newsletter here.
Locals have reacted with despair at the news, and are even calling on Lloyds Bank to reverse its decision, citing the fact that people living in the Gwendraeth Valley will be left with no banks at all.
“There’s no denying that the way people are banking is changing, however, bank branches on our high streets remain vital services for so many residents and local businesses,” said Llinos Mai Davies, the Carmarthenshire councillor for the Llannon ward. “This is the last bank branch in the Gwendraeth Valley, and I am particularly concerned about the impact this closure is going to have on the elderly and vulnerable. I have written to Lloyds asking them to reconsider this decision.”
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The news from Lloyds Bank comes just a week after Barclays confirmed it was closing its branch in nearby Llandeilo - leaving the town without a single bank. Lloyds is also closing in Ystradgynlais, leaving the second largest town in Powys without a single bank.
Cefin Campbell, a member of the Senedd representing Mid and West Wales, said: “Closure of the Lloyds Bank at Tumble is a further blow for Carmarthenshire residents and businesses. Communities across the county have already endured a disproportionately high number of bank closures - from Llandeilo last week to previous closures in Ammanford and Cross Hands, to name only a few.
"It’s increasingly clear the traditional banking system is failing our high streets and communities – with more and more customers being left high and dry. The Welsh Government have previously promised a Community Bank for Wales to step in where the multinational banks are failing our towns and villages. I will be pressing for urgent clarity of this development.”
Despite calls for a re-think, Lloyds Bank has confirmed to Wales Online that it will close the Tumble branch on August 3. According to the company, 71% of personal customers already use other means of banking, and branch transactions in Tumble fell more than 60% between 2017 and 2022. The banking giant also stressed that the nearby Post Office, located at the Premier store in Tumble, offered customers everyday banking services, and there was an ATM within short walking distance of the existing branch.
Following the closure, the company said a ‘community banker’ would visit the area to offer face to face support “for as long as the community needs it”. A spokeswoman for Lloyds Banking Group said: “Visits to our Tumble branch have fallen over recent years, as many customers now choose to bank digitally. When the branch closes in August, customers can use the local Post Office for everyday banking which is a short walk away, access cash at the nearby free-to-use ATMs, alongside other ways to bank such as over the phone and online.”
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