Stamford and Bourne branches of The Nottingham Building Society to close

Two branches of a building society are set to close 'before the end of the year'.

The Nottingham Building Society will close the doors on its branches in High Street in Stamford and in North Street in Bourne due to 'changing consumer behaviour'.

The society says it is in the process of contacting customers of the impacted branches to offer support and advice on alternative options for managing their money.

All the other banks in Bourne have also closed.

Kathryn Kitson, head of branch network at The Nottingham, said: “Following a thorough review of how our members are using our network, it became clear that we have too many branches for the size of building society that we are.

“Since covid, whilst some members have returned, many have not, leaving a number of our branches with very low levels of transactions and usage. Therefore, we’ve made the hugely difficult decision to close 17 branches in locations where the level of activity in the branch has reached a point where it is no longer sustainable.

“We appreciate this is disappointing news for both the members who use one of the affected branches, and our colleagues who work there.

However, we have been thorough and considered when making decisions on which branches to close, trying to ensure there are options in place for more vulnerable members and also taking into account the impact on the communities our branches serve.

“The decision to close branches is never one that is taken lightly so our absolute priority is doing all we can to provide the best possible support for all those impacted by these changes.”

There are 15 other branches across the region also shutting as part of these cuts.