THE BANKING situation in a town of 8,000 has been brought up in the Senedd.

Ystradgynlais is set to lose its last bank when Lloyds closes its branch in the town on September 19. 

This comes after HSBC closed its branch in 2014 and Barclays closed its branch in 2018. 

Lloyds said that the closure comes as customers are using the branch less often and that only 93 customers use the branch as their only way of banking.

But the local community has been joined by politicians in criticising the move, particularly the impact it would have on elderly and vulnerable customers, with the nearest Lloyds banks being in Pontardawe and Neath. 

Cefin Campbell, MS for Mid and West Wales, brought up the closure in the Senedd on Tuesday, April 25, stating that the current banking model has failed local communities and questioning the Welsh Government’s community bank for Wales.

He said: “It’s abundantly clear by now - as reflected in Lloyds’ recent announcement regarding the Ystradgynlais branch – that the traditional multinational banking model has failed our local towns and communities, leaving so many residents and businesses high and dry.   

“There’s no denying that people’s banking habits are changing – however for the elderly, small businesses and community groups and organisations, the importance of face-to-face banking facilities cannot be overstated.   

“The Welsh Government’s previously proposed Community Bank for Wales – or Banc Cambria – has the potential to fill this void left on our high streets by these heartless corporate banks. I am eager to continue to press to ensure that communities abandoned of banking facilities - such as Ystradgynlais - will be able to benefit firsthand from such service in the near future.”   

Lesley Griffiths MS, Trefnydd and minister for rural affairs, confirmed there would be an update on Banc Cambria before the Welsh Government breaks for the summer.

The community bank for Wales - known as Banc Cambria - is a commitment made in 2021 by the Welsh Government to work with the Monmouthshire Building Society to create the bank and address the gap in provision, effectiveness and quality of banking services in Wales. There would also be 30 new banking outlets over the next decade, focusing on the communities that have lost their provision. This was due to be started in 2023 but the financial climate has delayed it.