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Later Life Ambitions (LLA) Response to Labour’s Commitment to Face-to-Face Banking

Labour’s 5-point plan to breathe life into Britain’s high streets has identified the need for the availability of banking services for local businesses and customers on high streets. Labour will roll out banking hubs to guarantee face-to-face banking in every community boosting local high streets and shops. The cost of opening and operating the hubs will be met collectively by the banks.​  


Eamonn Donaghy, CEO of the National Federation of Occupational Pensioners, one of the member organisations of Later Life Ambitions, said, “Labour’s pledge to provide face-to-face banking in every community is a welcome reverse to years of neglect around this issue – a period that has seen unnecessary stress loaded on to many of our members as they’ve been expected to embrace online banking, like it or not.

 

“It directly answers the call in our manifesto, Standing by Pensioners, for banks and businesses to find more innovative ways for pensioners to access safe banking, including by providing local banking hubs.

 

“The closure of bank branches negatively impacts older people as banks are easier to access than an online platform and staff at bank branches may be more likely to identify fraud or financial abuse, especially if an older person is exhibiting cognitive impairment. Despite this, thousands of  towns and villages have already been left without a bank on their high street, leaving many pensioners excluded from access to financial services.”

 

For further information or comment, please contact David Halliwell on laterlife@connectpa.co.uk or call 07950 719056

 

To find out more about the Later Life Ambitions manifesto, please use the link below https://www.laterlifeambitions.co.uk/manifesto 

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