Town Centre Bank Closes Its Doors For The Final Time

A town centre bank has closed its doors for the final time – with a company restructure and modernisation of banks listed as some of the reasons for the closure. 

Back in February Wrexham.com reported that the Cooperative Bank on Egerton Street was one of many across the country to close – with the company announcing they had seen ‘transactions significantly decrease’ in the banks, but an increase in online banking.

The Wrexham branch closed its doors for the final time yesterday afternoon, with a sign in the window reading: “We regret to announce this branch will close permanently at 1:30pm on Monday 25th April.

“This decision has not been taken lightly but is necessary as part of our business plans and we apologise for any inconvenience this may cause.”

Picture of the Coop Bank earlier today

Speaking about the closure back in February Liam Coleman, Director 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 the last stage of significant branch closures as part of the Bank’s transformation.”

*Wrexham’s Cooperative Bank pictured yesterday.