Co-op trials its banks in store
The Co-operative has begun an eighteen month pilot scheme which will see five of its own brand banks open in Co-op stores by the end of the year.
The retailer opened a Co-op bank in its Horbury store today and after 1,000 residents signed a petition calling for it to fill a gap in the market. The banks have also opened in the Holmfirth and Marple stores with Lockheath and Cranbrook set to follow in quick succession.
If the pilot is successful, banks could be rolled out to several hundred Co-op stores. The bank will offer a full range of retail and banking services.
Neville Richardson, chief executive of The Co-operative Bank, said: “While other banks are being forced to close branches and communities are being left without banking facilities, we are making the positive step to open new ones. We’re committed to growing our high street presence to give customers a compelling alternative to the ‘Big Five’.”
