Banking Hub proposed after two bank branch closures announced in Sleaford

Set for closure in November - Sleaford's Halifax Bank branch. Photo: AHSet for closure in November - Sleaford's Halifax Bank branch. Photo: AH
Set for closure in November - Sleaford's Halifax Bank branch. Photo: AH
Councillors have expressed their concerns about the loss of banking services to Sleaford, but a ‘Banking Hub’ is recommended to be created after the announcement of two branch closures.

Lloyds Banking Group last week announced that it would be closing its Halifax branch on Southgate on November 6, 2025 and also its Lloyds branch on Northgate on March 12, 2026.

The announcement is part of 136 branch closures across the country – 61 Lloyds, 61 Halifax and 14 Bank of Scotland branches – between May 2025 and March 2026 – including branch closures in Skegness, Louth and Gainsborough.

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The banking group explained that, on average, transactions in these 136 branches have reduced by 48 per cent (and up to 73 per cent) in the last five years.

The grand Lloyds Bank branch in Northgate - set to close in March 2026. Photo: AHThe grand Lloyds Bank branch in Northgate - set to close in March 2026. Photo: AH
The grand Lloyds Bank branch in Northgate - set to close in March 2026. Photo: AH

A Lloyds Banking Group spokesperson said: “Over 20 million customers are using our apps for on-demand access to their money and customers have more choice and flexibility than ever for their day-to-day banking. Alongside our apps, customers can also use telephone banking, visit a Community Banker or use any Halifax, Lloyds or Bank of Scotland branch, giving access to many more branches. Customers can also do their everyday banking at over 11,000 branches of the Post Office or in a Banking Hub.”

All colleagues who work at these branches will be offered a role at another branch or in another part of the business.

LINK, the organisation tasked with ensuring people have suitable access to cash across the UK, has recommended that Sleaford gets a Banking Hub, such as the ones already opened in Mablethorpe and Market Rasen, where customers of all main High Street banks can go in and have access to cash and other banking services.

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According to Cash Access UK, which oversees the hubs, a Banking Hub can take several months from start to finish.

A spokesperson explained that a suitable property needs to be found and terms agreed with the landlord, as well as planning approval for the layout and design, as well as it it is listed or in a conservation area.

She went on: “Once opened these hubs offer a counter service operated by the Post Office, where customers of all major banks and building societies can carry out regular cash transactions, Monday to Friday. The hub will also offer a Community Banker service where customers can talk to their own bank about more complicated banking issues. The Community Bankers will work on rotation, with a different bank available on each day of the week. Community Bankers are usually provided by the banks with the most customers in the local area.”

Sleaford’s main post office in Riverside Precinct already runs a Community Banker service for Barclays Bank customers from a small office within its premises following the closure of the town’s branch.

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Postmaster Lee Taylor explained that it is not quite a Banking Hub at this stage and there are some barriers to becoming one in its current location.

Lee said he would be first in line to apply if a Banking Hub was requested. He said: “We were in talks with LINK last year. We are to be installing an ATM cash machine within the Post Office which can be accessed during opening hours to speed up counter service for those just needing cash.”

They are also planning to install a free-to-use multi-function ATM next month, that does deposits and withdrawals at their Indoor Market on Southgate.

However Lee said under rules, a post office dealing with parcels and so on cannot share the space with a Banking Hub, as the hub premises would be specifically for banking transactions only, with the lease paid for by the banks, so there would need to be some reorganisation and relocation.

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He said they would be speaking to Lloyds and Halifax and inviting in their Community Bankers to share their current space at the Post Office initially.

"I think the banks should be staying in Sleaford,” he commented. “I have seen how much busy they are.”

His father, Alan agreed, saying that if all those customers turned to using their Post Office they would not have the capacity for that amount of funds unless that could be renegotiated.

"Barclays Community Bankers are already coming in to us on Monday’s, Wednesdays and Fridays and want to come in Saturdays. Yesterday was their busiest day after people heard about the closures,” he said.

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"Ours was the first Community Banker arrangement with them locally and they have since opened them up in Grantham and Newark and it has gone really well. Customers are switching back to them knowing they have a representative that they can talk to face to face, which is what they want when you are going for a loan or a mortgage.

“I would like to keep some days free to allow the other bankers to come in to us too.”

Town and district councillor for Sleaford, Coun Linda Edwards-Shea said: “As far as I know the ‘hub’ in the Riverside Post Office isn’t as big as others elsewhere and doesn’t cover as many services as some hubs elsewhere. An upgrade to the Post Office would be good.”

But on the banks closures she commented: “Yet again Sleaford residents are being dealt a body blow by the cutting of banking services.

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"More people will have to leave Sleaford and go elsewhere to access the full range of banking services.”

She said the newly announced closures will damage local economic growth: “We have many local businesses and charities who still trade in cash and who need the support of a bank branch offering the full range of banking facilities. Our residents also need access to those services. Not everybody in Sleaford has access to online services and I don’t see that changing. Recently I heard a Government Minister say that residents need to be trained in accessing services online, but I think that’s insulting to our many residents who for one reason or another cannot access the online world.

“I’m sad to say the retail banks have given up on public service and have instead focussed on private profit at the expense of the public.

“Sleaford is a town with 20,000 residents, and that number is growing. We deserve better.”

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Mayor of Sleaford Coun David Suiter added his “deep concern” too: “This decision will significantly impact the local community, particularly the elderly, small business owners, and those without easy access to digital banking services.”

He said it will not only inconvenience many residents but also undermine the economic vitality of the community.

“Not only is it a loss of a vital service, but it's another significant building in the town centre that will become vacant. It is important that banks maintain a presence on the town.”

He urged the banks to reconsider this decision and explore alternative solutions.

"Together, we need to ensure that our community continues to thrive and that all residents have access to the banking services they need,” he said.

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