A NEW community banking hub has opened to counteract the loss of banks in a town. 

In Looe, the facility near the Library at the Millpool will be open weekdays from 9am to 5pm. 

Banking transactions, including the paying in and withdrawal of cash, can be carried out at the hub by anyone during these times, but there will be representatives from some of the main high street banks available on specific days to answer queries and offer assistance. 

The cash side of the operation is being provided by the Post Office. 

The project to provide a banking hub was instigated by Looe Town Council and the Looe Development Trust, who realised the difficulties local people would face once left without a physical banking branch to visit. 

While the hub is currently located within the former Toc H building, it’s hoped that, subject to planning permission, a permanent building will be erected in the autumn.

Cllr Tony Smith, Mayor of Looe: “We have been working with Cash Access UK to provide a banking hub in our town and are delighted that a suitable temporary location has been found. We’ll continue to work with Cash Access UK to find a more permanent base to guarantee access to cash in Looe in future.” 

Gareth Oakley, CEO at Cash Access UK explained: “While we continue our search for a permanent home for the banking hub, I’m pleased that we’re able to offer a temporary solution, meaning customers can access face-to-face banking services and access to cash in Looe.

“We have several temporary hubs operating around the country at the moment. The feedback has been positive, and it allows us to introduce these important services a little bit earlier as we prepare the hub. We are continuing to work closely with the local council and I hope we’ll be able to bring some positive news about the more permanent home soon.”