A new banking hub has opened in Axminster, a year after the town lost its last remaining bank branch.

The hub, based in the former Lloyds Bank building, was officially opened by local MP Richard Foord on Friday, November 24.

It is a shared banking space, offering face-to-face service for customers of all major banks and building societies and access a full range of banking services.

The Community Bankers will work on rotation, with a different bank available on each day of the week. The hub will be open Monday to Friday from 9am until 5pm.

The banking hub is the second to open in Devon, and was established by Cash Access UK, an organisation set up to protect nationwide access to cash. It will be operated by the Post Office. 

Mr Foord joined local community leaders and the Mayor of Axminster to cut the ribbon and formally open the site on Friday.

He said: “This new banking hub will make a huge difference. It will enable local people to access a full range of banking services in their own community and will help resuscitate the high street.

“Rural areas have lost so many bank branches in recent years. Many towns have seen every branch close; that is what happened in Axminster.

“This new hub shows that when we apply pressure to Government and to big business, we can protect vital services like face-to-face banking, which are essential to small businesses and older residents in particular.

“I will continue to advocate for more action by the Government to speed up the delivery of banking hubs across our corner of Devon, so as to protect people's access to cash close to where they live.

“In particular, I will be pressing for similar progress with a proposed banking hub in Sidmouth – which has been roundly endorsed by the local Chamber of Commerce there.”