Newton Abbot defies high-street banking trend with new long-term commitment
While bank branches elsewhere continue to reduce, Newton Abbot is seeing renewed confidence, with a major building society backing its town-centre presence
The Mayor of Newton Abbot has welcomed confirmation that Nationwide Building Society will remain in the town until at least 2030, following the refurbishment of its Queen Street branch.
Cllr Colin Parker attended a ribbon-cutting ceremony on Tuesday (20 January), marking the completion of upgrade works at the branch.
Speaking at the event, the Mayor said the occasion was about more than the physical improvements to the building.
“As Mayor, I often get to see the changing face of our town but today is particularly special because it represents something we value deeply in Newton Abbot, commitment,” he said.
He said the announcement was significant at a time when many high street banks across the UK have been reducing their branch networks, with more services moving online.
“We all know that the heart of a community is its high street. In an era where we increasingly see services moving online and branches closing their doors, seeing this beautifully refurbished Nationwide branch is a breath of fresh air,” he said.
Newton Abbot continues to have a number of high-street bank branches still open, including Lloyds Bank, Natwest and HSBC on Courtenay Street, Nationwide and Santander on Queen Street, and a Barclays Local service at the Passmore Edwards Centre.
Nationwide has publicly committed to keeping all of its branches open until at least 2030 under its Branch Promise, a move that has been highlighted nationally as running counter to wider industry trends.
Cllr Parker said the commitment would provide reassurance for residents and businesses in Newton Abbot.
“For our residents, especially those who value face-to-face support, our local business owners, and those who simply prefer the human touch, this commitment provides peace of mind,” he said.
He also thanked staff involved in the refurbishment.
“I want to thank the local team for their hard work during this refurbishment. You are more than just a building society, you are part of the fabric of our town centre,” he said.
The Mayor said the announcement marked a positive moment for the town centre and expressed hope for “many more years of service to the people of Newton Abbot”.