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<p>High streets are a crucial part of our local and regional economies. The Government
wants to see vibrant hubs where people live, shop, use services, and spend their leisure
time.</p><p> </p><p>A new agreement between the Post Office and UK banks, announced
on 24 January 2017, means that more individuals and businesses can use 11,600 local
Post Office branches to access a wider range of banking services. Thanks to the new
agreement, the Post Office estimates that 99% of personal bank customers and 75% of
business customers will now be able to do their day to day banking at a Post Office.</p><p>
</p><p>The Government recognises the need to support local communities to adapt to
changes in banking, including when bank branches close. In March 2015, the Government
helped to broker an industry-wide agreement to work with customers and communities
to minimise the impact of bank branch closures and put in place alternative banking
services. The Government welcomed Professor Russel Griggs’ recent review of the Protocol
and is pleased to see the industry commit to further improvements to protect those
affected by closures.</p><p> </p><p>The Government has also made a manifesto commitment
to support credit unions in making financial services more accessible. Credit unions
are democratic, not-for-profit, financial services providers which are owned and run
by members of their community and who provide affordable, sustainable credit to their
members.</p><p> </p>
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