After completing an 18 month review of its branch network operations, Newcastle Building Society has announced it will close its branch in Gibraltar in October this year.
The Society, which is the largest building society in the North East of England, is making changes to its branch network as it strengthens its focus on its heartland and its contribution to the region. As part of the review it will also close its Dumfries based branch, but will invest in the relocation or refurbishment of branches in Durham, Carlisle, and Berwick.
A programme of support is in place for staff, and local customers will receive appropriate guidance and information through the closure process. There are eight staff in the Gibraltar branch.
Newcastle Building Society employs more than 1,000 staff, the majority located in its Newcastle based head office centres.
Chief executive Andrew Haigh says: “Our roots are in the North East of England and we are focusing our operations on having a positive, long-term material impact on communities where we have the greatest presence.
“The decision to close a branch is not made lightly. The changes we're making are in line with our strategic focus on our heartland area, and we will ensure that customers and staff are fully supported as the closure process progresses.”