Nationwide branch to close

Shirley high street could become 'financial desert' as Nationwide becomes third bank this year to close

Tom Cramp - Local Democracy Reporter | Tuesday 23rd August 2022 8:18am

A Nationwide branch on Shirley high street is to close its doors permanently due to a lack of footfall. It becomes the third bank this year to abandon Shirley as fears over the future of the high street intensify.

In March 2022, HSBC announced it would be closing its branch on the high street in September after a 50 per cent footfall decline since 2017. A few months later in June, Barclays followed suit, reporting that 87 per cent of its customers at the Shirley branch were using different banking methods.

Now Nationwide has announced it will close for good at 2pm on Thursday, November 10, 2022. The bank was contacted for a statement and said: “At Nationwide, we see branches playing an important role in serving our members and providing them with valued face-to-face service. 

“In Shirley, 0.8% of members use the branch exclusively and frequently. We have three other branches within a 6.5-mile radius of Shirley, Solihull being the closest at 2.5 miles, all with good transport links. 

“We will reach out to support the small number of vulnerable members who use the branch helping them to find other ways to access their money via nearby branches, online or over the phone. If members need any type of support they can speak to our colleagues in branch or call 0345 2660548.” 

Cllr Mark Parker (Cons, Shirley East) is worried about the speed at which the banks have abandoned ship and fears for residents who depend on using cash. He told the LDRS: “I’m not burying my head in the sand in regard to the changes we are all seeing in the banking world.

“But my concern is the rapid pace of banks withdrawing from town centres like Shirley. Nationwide is going in November, we already know about HSBC and Barclays closing next month, so it’s like they are trying to outpace each other to leave the high street.

“It’s almost creating a financial desert,” he continued. “I know the banks are saying they have a presence in town centres like Solihull, but Shirley is on the doorstep of several thousand people on a major route and could impact people from other areas.” 

Several banks do still remain on Shirley high street such as Santander, Lloyds and Natwest. Cllr Parker said it will be interesting to see what happens with those branches over the coming months.

“If these three in Shirley are going, who else is going to go in the future? It niggles me that the banks received billions of taxpayers’ money 10-15 years ago during the credit crunch to survive and yet here they are abandoning people who are reliant on cash.”

The councillor for Shirley East said he currently has ‘no information’ on what will be replacing Nationwide or the Barclays branch. Questions around the former Morrisons site on Shirley high street remain after an application to turn it into a care home was rejected in March 2022. 

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