The closure of Cardenden’s last bank will be a huge blow to the town, a leading community figure has said.
David Taylor, the secretary of Cardenden Community Council, said that the decision by the TSB to close its branch will hinder efforts to attract more people to the town.
The bank will close its doors in June, a move that will force residents to travel to Kirkcaldy or Glenrothes for one-to-one financial services.
“I was shocked when I heard the bank would be closing,” said Mr Taylor.
“The Royal Bank of Scotland closed a few years ago, and while it might be alright for the youngsters with mobile phones, we have an ageing population here and people like to go into a bank instead.
“It will also affect local businesses that need access to banking services, as they’ll have to go to Kirkcaldy instead.”
Though only open on Tuesday’s and Friday’s, Mr Taylor said that the TSB offered a lifeline banking service for people living in Cardenden.
When the Royal Bank of Scotland closed its branch in the town in 2013, Mr Taylor was confident that many residents would transfer their business to the TSB, however, the bank has said that its decision has been taken due to a lack of trade.
Mr Taylor also said that the lack of a local bank would impact on trying to attract new people to Cardenden.
Describing the move as a significant blow, he added: “I’m not very sure how we can overcome this.
“We are trying to expand the village, not shrink it, but how are we expected to do that when our services are being taken away?”
Carol Anderson, Scotland branch and business banking distribution director at TSB, said: “Our presence and investment in Scotland remains strong and we’ll continue to make banking better for Scottish customers.
“That means investing in the branches that people are using and closing those that people just aren’t.
“We want the right branches in the right places and we’re also investing in our digital services.
“That way, we can continue to offer people the best of both worlds and meet their banking needs.”