The Cumberland Building Society has promised it will retain physical locations including Preston as other financial institutions continue leaving the high street.
The building society has a location on Fishergate among 31 branches across Lancashire, Cumbria, Northumberland and South-West Scotland and in 19 of those locations is the only remaining financial institution.
Weeks after Lloyds announced a raft of closures, Cumberland said it has no intention of following suit.
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The commitment comes after customers, local residents and business owners said they want financial institutions to maintain an active presence in their communities, with new research from the building society found more than a quarter of people in Lancashire, including 26% of those in Preston, said high street decline was a top issue facing their local community.
The building society’s research also found 26% across the North-West and Scottish Borders view high street decline as one of the biggest issues facing them and their families.
Stuart Miller, Chief Executive of The Cumberland Building Society, said: “These findings reflect the concerns we hear every day from the communities we serve. The high street is not just a place to shop, it is where people bank, where businesses trade and where the community comes together.
“When banks leave, they take more than a service with them. At The Cumberland, being an active member of our community is not optional, it is fundamental to who we are so we simply won’t follow the crowd and leave. Quite the opposite, we’ll double down by publicly committing to stay and going further with a multi-million pound investment programme into the branch network.”
The Cumberland puts the community and customers at the heart of everything it does, offering tailored support, clear guidance and a people-first approach to everyday banking.
As part of its community commitment, the building society is investing in its branch network across the region to better serve the communities it calls home. Part of a major investment which has seen its Carlisle English Street, Carlisle Rosehill, Egremont, Annan, Preston, and Barrow branches modernised, the building society’s Whitehaven branch is currently undergoing refurbishment with completion expected later this year.
The refurbishment programme introduces modern, accessible spaces designed around how customers want to bank today, combining face-to-face service with private areas for financial guidance, ensuring the branches remain a base for the community for years to come.
The Cumberland has provided more than £1.5m to charities and good causes across its heartland over the past five years. Last year alone, that included £350,000 in direct support and more than 200 days of colleague volunteering.
