MP Condemns Ellon TSB Closure as 'Bitter Blow' to Town Centre

Published date : 30 November, 2021

Gordon MP Richard Thomson has condemned the announcement by the TSB that it is to close its branch in Ellon.

Bosses at the Spanish-owned bank have slated it for closure on 19 April next year. The move comes after the town’s Royal Bank of Scotland branch closed in 2018.

Commenting on the announcement, Richard Thomson MP said:

“This is sadly an all-too common pattern we are seeing of banks which once took pride in their local roots and serving their communities simply being axed by some far-off head office in a bitter blow to the town centre.

“Clearly, customer habits have changed markedly since the old Aberdeen Savings Bank with the rise of online banking and the pandemic. However, if this week’s storm-related events have taught us anything it’s that you cannot rely on doing things online. In addition, one has to question a business model which says that the answer to declining footfall is simply to close down and retreat online where, instead of being one of three or four local banks to choose from, the TSB will become one of hundreds of options.

“The TSB have offered to meet with me and I shall be taking them up on that offer. There are questions around the retention of the ATM machine in light of the growing restrictions on people being able to access their own cash, and also where Ellon customers’ accounts will be maintained.

“I am becoming increasingly convinced that the answer to this wholesale withdrawal of banks from local communities is shared banking hubs. Pilot schemes are underway and seem to be showing some promise and this is certainly something which should be considered.”

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