UPDATED: Aylesbury Co-op branch ‘no longer sustainable’

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A senior Co-op Bank boss says the decision to close the Aylesbury branch was not easy but neccessary to turn the business’s fortunes around.

Aylesbury’s only Co-operative bank is set to close, with services moving to The Post Office.

It is not yet known when the Market Square branch will close.

The Co-op says customers will be able to go to their local Post Office to carry out most of their day-to-day banking transactions in addition to the bank’s online and mobile banking facilities.

Commenting on the closure of Aylesbury branch, Liam Coleman, director of retail and commercial bank at The Co-operative Bank said: “We have always been very clear about the need to reduce the branch network to a size that is consistent with a smaller, sustainable bank as part of our business plan to turn the bank around.

“These decisions are never easy but continuing to reduce our costs is necessary as we seek to restructure and modernise the bank and, unfortunately, this includes closing branches where the number of transactions has declined significantly, meaning it is no longer sustainable.

“Although, like all banks, we will need to keep our branch network under review as the switch to digital increases, this is thelast stage of significant branch closures as part of the Bank’s transformation.

“We have sought to keep the impact on our customers to a minimum and are writing to affected customers giving them advance notice about these changes and the alternative options available to them.

“Alongside online and mobile banking facilities, all closing branches are within three miles of a Post Office branch where customers can 
undertake most day to day transactions, and in many cases much closer.”

Aylesbury MP David Lidington announced the move by the bank on social media last week after receiving a letter from the Co-op.

He said: “The Co-operative Bank has taken the decision to close the branch in question as part of their restructure and modernisation plan. As the Market Square branch is their only branch in the local Aylesbury area of The Co-operative Bank they will work to ensure that their customers can still access their accounts and banking services.”

The bank is contacting its customers to inform them of the changes and are inviting comments through the branch itself.