The new facility, set to open in April, promises to provide in-person services for the community that has been without a bank since 2022.
For many Coulsdon residents, especially the elderly, who relied heavily on in-person banking services, Barclays’ bank closure in October 2022 was a blow to being able to manage their finances.
With limited access to public transport and some residents unable to easily travel to nearby towns, the absence of a local bank left many struggling to manage basic financial tasks.
However, the upcoming opening of the banking hub is expected to offer a much-needed solution, providing a one-stop service for customers of all major banks.
The new hub will allow individuals to carry out a wide range of transactions, including withdrawing and depositing cash, paying in cheques, paying utility bills, and topping up gas and electricity.
Customers will also be able to meet face-to-face with their bank or building society for more complex queries, with a private meeting room available.
Community bankers from local banks will rotate on different days of the week, offering services such as payments, transfers, account management, and help with online banking.
The new hub, which was championed by Coulsdon Town’s Conservative councillors and local MP Chris Philp, will be located at 152 Brighton Road and open from Monday to Friday, 9am to 5pm. Work began on Monday (January 20) to restore the building formerly home to Whichers Financial Advisors, next to Park & Bailey.
It is two minutes’ walk from Aldi, the Library and the Pembroke pub. It will also be accessible from Chipstead Valley Road.
Local councillors Mario Creatura, Ian Parker and Luke Shortland said in a joint statement: “We are delighted that a lease has been signed and work has begun to fit out the new banking hub in Coulsdon.
“Coulsdon’s last bank closing just over two years ago made it far more difficult for residents and businesses to access the banking services they need.
“The banking hub will bring back those vital services to our town, as well as increasing footfall in the town centre.
“This is the result of many different local representatives (including Chris Philp MP, Mayor Jason Perry, Residents Associations and councillors working and campaigning over a number of months.”
Coulsdon is not the only area of Croydon to have suffered from a loss of banking services in recent years.
Norbury, to the borough’s north, lost its final bank branch at the end of last year despite a similar campaign from local councillors and Labour MP Steve Reed.
While Coulsdon’s older-than-average population has suffered particularly from a lack of public services in recent years, there are other signs of improvement on the horizon.
This week, Croydon Council will move one step closer to the creation of a brand new GP Health Centre in Coulsdon.
Plans to build the centre in Coulsdon have been on the cards for around eight years, with the area suffering from the poorest health provision in the borough.
Mr Philp previously told the Local Democracy Reporting Service: “I’ve been working for several years to bring this health centre to Coulsdon. It will provide vital new medical facilities for the town, where GP services are stretched.
“This centre will help make access to healthcare faster and easier for everybody. I’m going to continue working night and day to make this project happen.”
The new GP centre will be built on the site of the former CALAT Adult Learning Centre car park. A completion date has not yet been set.
