Tuesday, August 25, 2020

News: Co-op to close Rotherham bank

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The Co-operative Bank has today announced proposals to close its Rotherham branch, one of 18 branches set to close nationwide.

The proposals include a reduction of around 350 roles and, aside from the specific branches affected, the reduction is expected to focus on middle management positions and head office roles.

The branch on Bridgegate in Rotherham town centre is set to close during 2020.

The bank said that it has spoken to affected colleagues and is currently consulting with colleagues and its recognised trades union on the proposals. Where possible, the Bank will look to redeploy colleagues into alternative posts.

The company said that the planned branch closures, which are expected to be completed by December 1 2020, had been selected following careful analysis of individual branch footfall over a 12-month period [January-December 2019] prior to the start of lockdown.

Affected customers will need to seek alternative options, including Post Office counter services, telephone, online and mobile banking.

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Andrew Bester, chief executive of Co-operative Bank, said: "Our people have shown great dedication and commitment to our customers over the past few months, so we are very sorry to announce this news today. Unfortunately, we’re not immune to the impact of recent events, with the historically low base rate affecting the income of all banks and a period of prolonged economic uncertainty ahead, which means it’s important we reduce costs and have the right-sized operating model in place for the future.

"At the same time, we are responding to the continuing shift of more and more customers choosing to bank online, with lower levels of transactions in branches, a trend which has been increasing for some time, across the banking sector and more broadly.

"The Bank is in a resilient position given the significant progress we’ve made in recent years, and our focus is on maintaining this as we continue to support our customers through the crisis. We will do all we can to support colleagues through the process with fairness and respect."

Co-op Bank almost collapsed in 2013 and is no longer part of the mutual, Co-Operative Group. In 2017, a holding company was formed, backed by other banks and hedge funds.

Co-op Bank website


Images: Google maps

4 comments:

Graldhunter August 25, 2020 at 4:53 PM  

Of course the lack of free car parking in Rotherham has not made it easy for car customers to take their business there, Well Done Anti-Car RMBC 😢🤔😩

Anonymous,  August 25, 2020 at 10:45 PM  

Here we go, the usual free car parking rubbish.As I've said many times, I work all over country and say with certainty I've rarely if ever come across free parking in any large towns or city's I work in, shopping centres yes, not normal parking No.

Anonymous,  August 26, 2020 at 10:31 AM  

Two hours free parking in Forge Island is enough on weekdays or you can use all day at the weekend. Its a few minute walk from there to any shop in town, I do it for business banking at Santander and have a coffee whilst there.

Rod August 26, 2020 at 11:45 AM  

On the banks closing, no doubt its good, loyal customers will be told to use the Sheffield branch (just like M&S). The bus depot’s closed, the Magistrates’ Court closed... Barnsley and Doncaster retain their M&S and Co-op banks (and Court) amongst other things. Is Rotherham now considered a suburb of Sheffield? Where will it end? The council being absorbed? The so-called “Sheffield City Region” doesn’t bode well for Rotherham..!

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