Yorkshire Building Society to close four branches in the region

The Bradford-based business said it is planning to increase the size of its national high street network over the next three years to ensure it has a more even spread of branches and agencies across the country.

However it said part of the revamp would involve reducing its high street network in towns and cities where there is duplication or it is highly concentrated.

The branches under threat in Yorkshire are in Bingley, Knaresborough, Meltham in Huddersfield and Yeadon in Leeds. They will all close in March of next year.

The group added that a recent review of its office locations and has identified excess capacity in terms of supporting the products and services it provides members. It is therefore proposing a phased closure of its Charlton Kings site in Cheltenham over the next two years.

Work currently done at this location would move to the Group’s offices in Bradford and Peterborough, with Cheltenham colleagues offered redeployment support.

Mike Regnier, Chief Executive of Yorkshire Building Society Group, said: “We are a strong and financially sustainable building society and members have trusted us with their money for more than 150 years.

“Over that time, we have evolved from a small local mutual into a secure and reliable modern financial services provider serving more than 3.2m people right across the UK.

“Face-to- face service will continue to play an important part of our offering to customers for many years, but we must continue to evolve if we are to remain relevant and competitive in today’s market.

“The proposed changes to our high street outlets and office sites will enable us to deliver better overall value for members by operating in a more cost-effective way, with the savings we make being reinvested in the business.

“If the proposals go ahead, our reformed high street network will complement our digital and telephony channels, enabling us to reach more customers and supporting them to do business with us in ways which are most convenient for them.

“We believe these proposed changes are necessary for us to continue to grow and help more people to become homeowners and have a secure place for their savings.”