Lloyds TSB is pulling out of both Chudleigh and Buckfastleigh. Other banks have already quit the two towns and, from November 30, residents will have to travel elsewhere for full banking facilities. Six years ago, Lloyds TSB promised it would maintain branches where it was the last bank in town, and this was reiterated only last year, but it has now decided 19 banks across Britain are too expensive to operate. Of these, 12 are classed as 'the last bank in town'. Five of the banks to be closed are in Devon: Chudleigh, Buckfastleigh, Princetown, Winkleigh and Bere Alston. Reaction to the news has been a mixture of disappointment and anger. Notices went up outside the Chudleigh Lloyds on Friday. Town council chairman Cllr Lorraine Evans said: 'We are shocked and horrified at this unexpected and unwelcome news.' Janet Young, manager of Bradleys Estate Agency, Buckfastleigh, and a member of the town's chamber of trade, said the she and other townspeople had started a petition. 'We are facing a nightmare in the rural economy,' she said. 'There are many elderly and isolated people who use the bank and who can't necessarily get into Ashburton, where the nearest bank will be. 'What's more, there are many businesses in the town that use Lloyds, what will they do now? You can't pay in cash online and it could mean that as an estate agent we might have to stop taking in rents here.' In Chudleigh, the closures aroused strong feelings at the town council meeting on Monday. l turn to page 2 l from page one 'This flies in the face of government recommendations,' said Teignbridge councillor Ray Frost. 'The government is urging us towards sustainability and now we will have to drive miles to the nearest bank.' 'This is a cash area, it's not London,' said Cllr Wendy Macfarlane, a member of the Chudleigh Traders' Guild, 'The closure of Lloyds TSB lets down local businesses. We need to vote with our feet. We will be organising a petition against the closure and urge Chudleigh shopkeepers and everyone who needs the bank in Chudleigh to support us. 'This decision is anti-green policies, will cause great inconvenience for residents, and means that we will have to drive to the nearest banks in Bovey Tracey or Newton Abbot – and the parking is dreadful in both towns.' County and district councillor Stuart Barker, who lives in Buckfastleigh, said: 'The news from Lloyds TSB is devastating for our town and demonstrates that the bank is more interested in making excessive profits than it is in supporting the businesses and communities who have supported the local branch for many years. Many local businesses and residents have stayed loyal to Lloyds TSB because they maintained a local branch despite more attractive offers from other banks. 'Members of the community, including myself, have spent the last 11 years or so rebuilding Buckfastleigh from a low ebb to being the attractive, caring community it is today. The effect of Lloyds TSB's uncaring action has the potential to drive customers to other towns because they will need to access a bank. There could well be a detrimental effect on trading because it will alter people's shopping habits. This has come on the heels of Post Offices withdrawing services. 'Local traders have organised a petition which is now nearing 1,000 signatures. What is really annoying is that when the opening hours were reduced I had an explicit undertaking from Lloyds TSB that they would not close the last bank in town. It seems that promises from the local management can br over ridden at will by those who put profit before people. 'The very least that Lloyds TSB should do is postpone the closure while they consult the local community about what it will take for them to stay open. The massive support for the campaign should demonstrate the need for consultation to the bank.' Teignbridge MP Richard Younger-Ross said: 'I am disappointed with their decision. 'I have contacted the bank expressing my grave concerns at the loss of another service for these towns.' Both the MP and Teignbridge Council are writing to the chairman of Lloyds TSB. Lloyds TSB spokesman Leigh Calder said the low number of customers using the doomed branches had forced the bank's hand. 'If just one person a year was to use a branch, would we be expected to keep it open?' he said. 'As a commercial institution we would be insane if we shut the door when there's business to be done.' Mr Calder apologised for the closures but added: 'We are a commercial organisation at the end of the day and responsible to our shareholders.' He added that the bank's personal customers could use the Post Office for most of their daily banking needs. Lloyds TSB reported profits of £1.8 billion for the first six months of this year.
