Sioned Williams MS writes about the planned closure of Lloyds Bank in Pontardawe, and the alternatives for the people of Cwm Tawe
This article was published in the South Wales Evening Post on Thursday 20 February 2025.
The last bank in the Swansea Valley
“But it’s only 4.4 miles away”
We know all too well from living in this part of Wales, that 4.4 miles means something very different to people living in city centres to those living in the Western Valleys like Cwm Tawe. But this has become an important issue in the closure of the last bank in the Swansea Valley – Lloyds in Pontardawe.
Take the distance from Pontardawe to Neath. From the Lloyds Bank in Pontardawe to Lloyds Bank in Neath, it’s 4.4 miles as the crow flies, but it won’t come as a surprise to know that only crows get to travel between the two towns in that sort of distance. Walking it, it’s over 5 miles – over a mountain. Driving it, it’s more like 6 miles over that same mountain, or nearly 11 miles if you go via the M4. One of the public transport options given by a popular search engine is to take the bus into Swansea City Centre and catch the train up to Neath – a whopping 17 miles. And we know that there are huge problems with bus services.
This matters because it’s one of the justifications given for Lloyds Bank feeling able to close their Pontardawe Branch. With a Lloyds branch available in Neath, it’s not that far - so the LINK Cash Access Assessment Outcome says - for Pontardawe residents and businesses to do their cash based transactions elsewhere.
Try telling that to the many cash based businesses in that will have to close up early to make the journey from the Swansea Valley to Neath with their daily takings. Or the pensioner who’s worried about whether the letter they’ve received is a scam, and wants to show someone from the bank quickly and face to face. Or the taxi firm that needs to withdraw more money than the Post Office will allow, to keep their drivers paid.
Since Lloyds announced their plans to close their Pontardawe Branch, I’ve been out and about speaking to residents and business owners, I’ve hosted a public meeting, I’m running a petition, and I’m also a resident of Pontardawe who uses the Lloyds Bank to do my banking - so I know only too well the impact that this closure will have on the town and the surrounding area.
What’s particularly galling about this decision, is that this is the last bank in the whole of the Swansea Valley. When Lloyds closed their Branch in Ystradgynlais, one of the justifications given was that there was a branch in Pontardawe. Now this is set to close in November, what then for the 25,000 people of Cwm Tawe?
Some time ago, Welsh Government committed to developing a community bank for Wales, but there’s been no update on that work in months and no budget has been allocated in next year’s budget to support this plan.
People need access to cash and banking services in their communities. Particularly small local businesses and particularly elderly, vulnerable or disabled people and those who don’t have access to a car.
And Government decisions are making things worse - on the same day that we heard about the bank closure in Pontardawe, a nearby branch of the local credit union was forced to shut in Port Talbot because of the increase in national insurance contributions.
With banks pulling out of high streets all around Wales, we need to hear what both the UK and Welsh Labour Governments are doing to help keep essential financial services in our communities.