Hinckley & Rugby Building Society is here to stay!

Banks and building societies closed 6,161 branches between January 2015 and September 2024. This means only 38% of the branches that were open 10 years ago remain open today. The East Midlands has suffered more than most areas of the UK, currently having the second worst branch-to-people ratio of just 4.6 branches per 100,000 people.

The local branch is a lifeline for people who are not comfortable with a purely digital service, particularly elderly customers and those in vulnerable circumstances. The personal, face-to-face service provided by high street branches is invaluable to the people who rely on it.

Michaela Whitehurst, manager of Hinckley & Rugby’s Hinckley branch, commented: “Not everyone is tech savvy, and the public are increasingly apprehensive about using online accounts because fraudsters are getting more creative by the day. Most people like to see an actual person, face-to-face, and feel safer that way.”

In fact, a recent national survey found that more than 1 in 8 adults have fallen victim to a financial scam this year. It is often the very people who rely most on branch services who are susceptible to being duped by fraudsters. Well-trained staff, who in small towns tend to have a years-long relationship with their customers, are key in protecting people from this scourge. 

In addition to providing a personal level of support with financial services, banks and building societies have long been at the very heart of community life and wellbeing. Building societies in particular – since they are owned by their members, not shareholders – reinvest profits into the community. 

For example, Hinckley & Rugby provides major annual support to local charities through its Community Foundation, and supports other local good causes on an ad-hoc basis through its Community Sponsorship Scheme and by volunteering time and resources.

“We understand the importance of maintaining a strong local presence,” says Barry Carter, CEO at Hinckley & Rugby. “Although we are investing in and developing digital services, many of our members value having a branch they can rely on, and that matters to us. We are 100% committed to our branch network, and to meeting the needs of all our members.”

Visit hrbs.co.uk/we-are-here for details of the Society’s savings accounts, Community Sponsorship Scheme, and more.