The UK high street and consumers alike have been given a boost with the news that a major lender has committed to keeping all branches open for at least five years.
Leeds Building Society has pledged it will maintain regular opening hours and no need for appointments for clients across all 51 locations until 2031.
Those range from the south coast of England to Belfast in Northern Ireland, with others located across the north east, the Midlands and, of course, Yorkshire.
While several banks and financial institutions in previous years have focused on closing branches in a bid to cut costs, there has been a change of approach for some organisations as to how to best serve customers and remain accessible.
A commitment to keep each branch open comes at the same time as Leeds Building Society have also promised not to offer better savings rates to new customers than existing ones, perhaps highlighting the wider industry’s altered approach to customer retention of late.
The full list of locations with branches which will remain open for the next five years can be seen on the below map:
In practice, the pledge will mean regular open hours and an ability for customers to speak to staff without needing to arrange a time beforehand.
The rates promise, meanwhile, will mean no savings accounts offered to new customers only, in an attempt to reward clients for loyalty.
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Savers this year across the UK have been increasingly active in moving their cash with higher interest rates on offer, with some major high street lenders particularly reluctant to pass on those increased rates.
Annette Barnes, chief executive officer of Leeds Building Society, said: “As a building society we are owned by our members, so making decisions in their long-term interests is at the heart of how we operate. These promises put that principle into practice.
“We’re committing to the high street and giving members certainty that all 51 of our branches across the UK will remain open for at least the next five years, with consistent opening hours every weekday, as we continue to offer valuable face-to-face support alongside digital services.
“We also believe loyalty should be rewarded, which is why existing members will have access to exclusive products rather than these being reserved for new customers. We’ve already launched a loyalty savings product, and our mortgage cashback offer, but there’s more to come as we continue to deliver lasting value for members.”
Earlier this year, Leeds BS offered first-time buyers a mortgage deal with deposits from as low as two per cent, starting from a minimum of £5,000 deposit size.
