I want to see a new Banking Hub in South Pembrokeshire.
As you will be aware, Lloyds Bank will close its branch in the town on 26th June 2025. This closure marks the loss of the last remaining bank branch in Pembroke Dock, and follows the recent closures of all banks in Pembroke, Tenby, Saundersfoot, Narberth, Neyland, and Milford Haven (with only a Nationwide Building Society now remaining in Milford Haven).
Under current arrangements, the organisation LINK carries out an assessment to determine whether additional banking services are needed when the last bank in a town closes. Their most recent assessment for Pembroke Dock was conducted remotely on 29th January 2025, and it concluded that the locality is sufficiently served by existing ATMs and Post Offices. I strongly believe that this assessment does not reflect the realities or needs of our communities in South Pembrokeshire.
The full LINK assessment can be viewed here:
👉 LINK’s Assessment Process
There are several key considerations that were overlooked in this decision:
- Face-to-Face Banking Services: While our Post Offices are valued, they cannot offer essential in-person services such as mortgage advice, setting up or amending direct debits, guidance on savings or financial products, or support with powers of attorney. This is especially critical for elderly and vulnerable residents who are not online. Small business owners are similarly affected, losing the ability to meet business managers or discuss tailored financial matters.
- Regional Importance of Pembroke Dock: The town serves as a central retail hub for much of South Pembrokeshire, attracting regular visits from residents of Tenby, Saundersfoot, Narberth, Pembroke, Neyland, and Milford Haven. It supports a retail offering including Aldi, Lidl, Asda, Tesco, Farm Foods, Home Bargains, and B&M, making it a natural location for a regional Banking Hub.
- Population Undercounting: LINK's assessment cites a nearby population of 19,066. However, even the 2011 Census listed 20,851 residents for Pembroke and Pembroke Dock alone. Including surrounding towns (Tenby, Saundersfoot, Narberth, Neyland, and Milford Haven), the actual population potentially served is at least 54,445, and likely higher today.
- Cost and Accessibility of Travel: LINK claims travel to Haverfordwest is inexpensive and convenient. In reality, the costs and journey time are substantial via public transport.
It is important to note that many people have moved their banking to Lloyds in Pembroke Dock as the last remaining physical branch in the area. Its closure will leave South Pembrokeshire with no dedicated bank branch, which will disproportionately affect those who rely on in-person services.
I have formally requested that LINK review and reconsider their decision, and I now seek your support in pressing this case. I would also like to suggest that the current Lloyds Bank premises at 35 Dimond Street would make an ideal location for a new Banking Hub.
With your support, I believe we can make a strong and evidence-based case for Pembroke Dock to become home to a dedicated Banking Hub that would serve not only its own residents, but the wider region of South Pembrokeshire.
Please sign your support below.