FRUSTRATED residents have spoken out after Lloyds Bank announced plans to close their Newbridge branch.

Lloyds has revealed that their Newbridge facilities will close on Tuesday, October 11 as a reaction to customers increasing use of alternative branches and telephone and online banking.

A petition, launched by South Wales East Valleys Lib Dems, has already reached over 100 signatures in less than a week, encouraging residents to “join the fight to keep this vital branch open”.

It states that after the Barclays closure last year, Lloyds is the last bank in Newbridge and remains a “lifeline for local people” as it provides the “only cash point in the town”.

Ian Dugmore, of Newbridge, believes the closure will be a “huge blow to the village and surrounding communities”.

“There seems to be a lot of local support for the bank to stay open,” he said.

“A lot of people in the area — Newbridge, Crumlin, Abercarn, Pantside, Treowen, Trinant and Swfrydd — depend on the bank and the facilities it brings to the area.”

Islwyn’s MP Chris Evans has also called on banks to “adapt and boost” their customer service to stop vulnerable customers being excluded from finance.

His remarks were made at a debate in parliament over bank branch closures a day after Lloyds Bank announced plans to close their Newbridge branch.

Mr Evans said: “As more bank branches close in my constituency and across the country, more people face the prospect of not having a local bank.

“While so many people use online and telephone banking, this is simply not an option for many.”

The MP has also called on banks to produce community impact assessments when they plan to close branches, ensuring banks take community representatives and stakeholder views into account.

He added: “If bank branches have become commercially unsustainable and will continue to close, as trends across the country suggest, then banks will have to think of ways to adapt to ensure nobody gets left behind.”

A spokeswoman from Lloyds Bank has stated that the closure is part of the groups three year strategy, with closures resulting from “reduced level of demand” for services.

In the Newbridge branch's case, this includes a 26% drop in personal customers, an average of 52 weekly personal and business customers and 91% of customers using Lloyds Blackwood branch 2.36 miles away.

She said: “This branch has been identified for closure because of the changing way customers choose to bank with us, which has resulted in customers using it less often.

“We apologise for any inconvenience that this may cause and have informed customers of the closest alternative branch.”

Customers who use the Newbridge branch will have their accounts realigned to Blackwood after the closure takes place.

To view the petition, visit: www.valleyslibdems.wales/lloyds_newbridge.