No Thamesmead bank: MP takes action

PUBLISHED: 11:38 31 January 2012

Teresa Pearce

Teresa Pearce


Thamesmead’s MP has written to the heads of major banks and building societies urging them to open branches in the town.

Teresa Pearce also invited the bosses to meet her in Westminster to discuss opening branches in Thamesmead which has approximately 50,000 residents but no banks.

Ms Pearce, who has been a member of the Treasury select committee member since last November, said: “Last year local community groups told me that one of the most important factors in improving Thamesmead is getting better banking facilities for residents. Royal Bank of Scotland has already said they are willing to engage with me about better banking services in Thamesmead, and I hope the other major banks and building societies I have written to will follow suit.

“It’s really important we get more bank branches and cash machines in Thamesmead. At the moment all the banking facilities are in the south of my constituency and tens of thousands of people living in Thamesmead don’t have easy access to local banking services.”

In the letters sent out last Friday (27) Ms Pearce argues the arrival of Crossrail at Abbey Wood would make a branch opening a good commercial decision.

They read: “I know some banks are working on improving financial inclusion in deprived areas and some still operate community banking teams. I am keen to ensure that banks are aware of the pressing need for better banking services in Thamesmead.”

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