Last week Halifax announced that they plan to close the Dagenham Heathway branch on 15 May 2024. Margaret Mullane, Labour’s Prospective Parliamentary Candidate for Dagenham & Rainham made representation to the Lloyds Banking Group urging them to reverse this decision or consider offering a more limited service through a third-party organisation such as the Dagenham Library.
Margaret said: “Recently Barclays Bank left the area, and before that Lloyds closed their branches, it is becoming more and more difficult for people who rely on cash and face-to-face services to access their money, and this isn’t right. Not only this but local people don’t want to see another boarded up shop contributing to the further deterioration of the Heathway.”
According to research by the Financial Conduct Authority (FCA) in 2022, older people, people in poor health, those with lower financial resilience and those with lower financial capability depend more on cash. Dagenham & Rainham is one of the most deprived areas in London, making it even more important to have local access to face-to-face banking services.
Margaret concluded: “Local high streets should be the beating heart of our communities, but sadly in Dagenham the Heathway hasn’t been a source of pride for a long time. This week Labour launched its plan for small businesses, and as part of an incoming Labour Government I will ensure investment comes to our area – overhauling business rates so that independent business and other high street retailers can thrive. Labour have also pledged to return the banking services that are disappearing from our town centres. In the meantime I will continue to lobby Lloyds Banking Group for a solution that doesn’t leave local people without suitable options to access their money.”
Comments