Banking services for our sector - update from NALC

NALC were active in 2021 in promoting a campaign to improve banking services for local (parish and town) councils. This included various meetings with UK Finance (the trade body for UK banks and financial organisations), a short national status report on banking issues for the sector, promotion of bank surveys undertaken by the Lincolnshire, Nottinghamshire and Oxfordshire county associations and a request to create a universal, simpler bank mandate form for local councils.

Since last year NALC has also engaged with the Plunkett Foundation and Action for Communities in Rural England (ACRE) on this issue and has learnt that the banking problems being faced by local councils are also being experienced by other local organisations such as charities, voluntary bodies and all manner of rural businesses.

Both NALC and ACRE have also flagged up these concerns with the Rural Coalition and with DEFRA.

One potential vehicle for progressing this campaign is the government's Financial Services and Markets Bill which was announced in the Queen's Speech and we understand is likely to start its parliamentary journey in the Autumn.

NALC will also be following up their previous meeting with UK Finance and the actions they agreed to take away and consider with their members.

Posted: Tue, 12 Jul 2022 12:14 by Alison Robinson

Tags: Banking, Finance, Local Council Finance