Co-op has teamed up with Cash Access UK, the organisation set up by the government and the banking sector to protect access to cash across the nation, to open its first banking hub in a grocery retail outlet.
The hub in Co-op’s Treorchy store in south Wales will provide local residents and businesses with convenient access to essential banking services. It is a shared banking space with a counter operated by the Post Office, where customers of all major banks and building societies can carry out regular cash transactions, Monday to Friday.
There is also a community banker service where customers can talk to their own bank about more complicated banking issues. These community bankers work on rotation, with a different bank available on each day of the week.
There are currently 150 hubs, which have been set up across the country since 2022 and which look to support customers and businesses that require regular access to cash and face-to-face banking services.
Co-op said the move was part of its focus on creating added services in its stores and social value, promoting stronger and more resilient communities.
“We are pleased to partner with Cash Access UK – and delighted to host their first-ever banking hub in a convenience store setting. At the very heart of our approach is convenience,” said Co-op director of format and innovation Mark Matthews.
“Our stores are more than just a shop, they are a community hub combining great-quality products, value and deals along with community participation and a range of added services. We are committed to creating social value, and promoting stronger communities – providing a permanent home for Treorchy’s banking hub inside the local Co-op will ensure convenient access to cash and financial services to benefit the local community.”
Cash Access UK CEO Gareth Oakley added: “We’re thrilled to partner with Co-op to establish our Treorchy banking hub permanently within their local store. This collaboration ensures continued access to cash and banking services for the community, with daily support for cash transactions and scheduled visits from community bankers. We thank Co-op for allowing us to utilise unused space in their premises.”
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