CEREDIGION MP Ben Lake called for a publicly-supported, community-based bank network in a debate at Westminster on the role of banks and their responsibility to the communities they serve.

The debate on 11 January was held following the Royal Bank of Scotland’s announcement in December to close 259 branches across the UK.

Concurrently, NatWest announced that it would be closing two of its branches in Lampeter and Cardigan.

When these closures come into effect in May and June, even more communities in Ceredigion will be cut adrift from essential face-to-face banking.

In the debate, Mr Lake said: “These closures present a range of challenges to both personal and business banking; challenges that are magnified in rural areas.

“The closure of one branch will often require transferring to another branch many miles away.

“This is a particular problem for older people, or those with poor mobility, and, again, living in rural communities, where transport links are few and far between, merely exacerbates the problem.

“Bank branch closures also create serious obstacles for businesses, and especially small, family-run businesses which still play such a vital role in rural towns and villages. These owners are forced to close just so that they can travel to their nearest branch to cash their takings.”

Mr Lake called on UK Government ministers to arrange an urgent summit of all the major UK retail banks in order to discuss their future plans with regards to their branch networks.

See this week’s south papers for the full story, available in shops and as a digital edition on Wednesday