ORGANISATIONS in a town are stepping up to provide cash and banking facilities for businesses and residents following the closure of the last physical bank branch this year. 

In Looe, a modular building will be installed next to the library, with some of its facilities provided by the Millpool Centre. 

It’s hoped that subject to planning permission this building will be erected in the autumn. 

The new Banking Hub will offer the ability to carry out all everyday transactions including the paying in and withdrawing of cash. 

The modular building will serve until a more permanent base can be found in the centre of town, said councillor Armand Toms. 

“This will be a joint effort by Looe Town Council and Looe Development Trust to provide a Banking Hub for the town, which is in need of these services,” said Cllr Toms. 

“Businesses have found it difficult to pay in money and get change. 

“Six percent of the population only use cash, and in Cornwall only 83% have access to the internet, so online banking is not an avenue for them.” 

The money side of the new Banking Hub will be run by the post office, and Cllr Toms added that a number of banks have already signed up to provide a person one day a week to give their customers banking advice.