New fund aims to improve banking access

A North Yorkshire funding programme has been launched to help improve access to banking services in rural towns and communities.

The new fund will support projects that restore or enhance access to cash and banking facilities in areas where traditional bank branches have closed or become less accessible.

Communities across York and North Yorkshire are being invited to apply for support, with the initiative targeting places where residents and businesses face growing challenges accessing everyday banking services.

The programme will back proposals that improve access to cash withdrawals, deposits, business banking and account management, while also encouraging wider community benefits such as financial wellbeing support and business engagement.

David Skaith, mayor of York and North Yorkshire, said: “Having access to banking services is still incredibly important for many people, businesses and communities across York and North Yorkshire. 

“The continued closure of bank branches has left many residents with fewer options for managing their finances, while local businesses still need access to face-to-face banking services to operate effectively. 

“Keeping these services available isn’t just about banking – it’s about supporting local businesses, helping our high streets succeed, and making sure our communities can continue to thrive.”

Fiona Whittet, councillor and a financial adviser in Bentham, added: “Previously we had a bank on the high street. 

“It was a real hub for the community, and we lost that some time ago. 

“While our Post Office does a brilliant job supporting the community with services like cash withdrawals, deposits and bill payments, there’s so much more that’s needed.

“We have quite an ageing demographic in Bentham, and for many people it’s difficult to access branches in places like Skipton or Lancaster due to limited public transport, often relying on family members to get there. 

“People are also looking for guidance and advice on their accounts, savings and mortgages, and that’s been a real struggle.”

Locations identified as having the greatest need include Bentham, Catterick Garrison and Colburn, Filey, Haxby, Leyburn, Settle, Tadcaster and Whitby.

Ali Hussain, owner of newly opened The Treasury Whitby, added: “I think the closure of high street banks is hugely regrettable and, for rural towns like Whitby, extremely inconvenient. 

“A simple banking trip can take up to three hours, costing valuable time and increasing environmental impact.

“I understand and welcome technology playing its part; however, day-to-day banking inefficiencies and the loss of personal relationships, including not knowing your bank manager, are a concern.

“Ironically, in the past twelve months I have had numerous conversations about how important a bank was, particularly in Whitby, to the community. 

“It was a place that shaped people’s futures, where they could interact with another human being, and where life-changing moments occurred. 

“Many took out their first mortgage there or went with their parents to act as guarantors for car loans that enabled them to commute to work. 

“Decisions were often based on personal relationships.”

Applications are open to individual organisations and partnerships, with collaboration between financial service providers and community groups encouraged to maximise the impact of the investment.

To find out more, click here.

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