Bank Branch Closures

Jim Shannon Excerpts

Wednesday 16th March 2022 Commons Chamber

[Ms Anum Qaisar (Airdrie and Shotts) (SNP)]

Thank you, Mr Deputy Speaker. I am aware that it is not necessarily a requirement to thank the Chair in an Adjournment debate, but this is my very first Adjournment debate and it really is a pleasure to serve under your chairship.

The subject that I am raising today is so important and so topical: just today, HSBC has announced that it is closing 69 stores across the four nations. My constituency of Airdrie and Shotts is centrally located; in fact, the wee town of Harthill is pretty much halfway between Glasgow and Edinburgh. There is therefore an assumption that my constituents can travel around easily, so if a local service such as a bank closes, they can simply hop on a bus. That is not the case.

In September last year, Virgin Money announced that it was closing three of its Lanarkshire stores: Airdrie, Cumbernauld and East Kilbride. The Airdrie store closed its doors in January this year. My constituents were told that they could travel from Airdrie town centre to the nearest branch in Baillieston. That is either 20 minutes by car or a bus journey of an hour, and for that to work, we would have to assume that people do not live in places such as Greengairs, Petersburn or Chapelhall. Essentially, my constituents who do not live in Airdrie town centre have considerable journeys to make. That poses additional barriers to those who are either financially vulnerable or struggling with mobility.

When I spoke last year to officials from Virgin Money, which is the rebranded former Clydesdale branch, they told me that the closures were in response to changing customer demand and a reduction in footfall. That did not really make sense to me, because every single bank branch in the country saw a change in customer demand and a reduction in footfall. Why? Because we were in the midst of a global pandemic and in lockdown.

When we think of banking hubs, we also think of London, the big city. However, my constituency has a proud 181-year history as a banking hub, and Airdrie Savings Bank, founded in 1835, had its own long and proud history in north Lanarkshire and, indeed, throughout Scotland. It was a small commercial bank which operated on mutual principles and had no shareholders, being governed instead by a board of trustees.

[Jim Shannon (Strangford) (DUP)]

I congratulate the hon. Lady on securing the debate. We have discussed banks here on many occasions. These closures affect the most vulnerable in society, the elderly and others who have no access to modern technology. They cannot simply jump online to do their banking. The banks make massive profits every year, and they have an obligation to look after the customers who have, in fact, built them up.

[Ms Qaisar]

Those are important matters, and I will come to them later in my speech.

I vividly remember being dragged to the high street when I was a wee girl growing up in Motherwell. Adult Anum does not necessarily have to be dragged to the high street, but as a child I hated it. My mum had her routine: she would go to Asda and get her messages, and then she would pop into Airdrie Savings Bank. Popping into the bank meant that she could get all her banking issues sorted out, but bank branch staff tend to become known to locals, so Mum would often stand and have a wee blether with them. However, this small commercial bank ceased trading entirely and closed its doors in 2017. Royal Bank of Scotland in Graham Street closed its doors in 2018, and Barclays shut six years ago. As of today, Airdrie is serviced by only one bank, Bank of Scotland, and one building society, Nationwide. It is the same story in Shotts. In 2016 Royal Bank of Scotland shut down, and Airdrie Savings Bank closed its Shotts branch back in 2015. RBS does send a van to the Co-op car park once a week for an hour, but outwith those times people have to head for a nearby town such as Wishaw.