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Post Office Commits to Community Banking

Press Release   •   May 08, 2014 12:17 BST

COMMUNITY BRANCH FUND
By applying to the fund, Subpostmasters will have the opportunity to make a case for funding to support the growth of their business and deliver benefits to customers to help the long-term sustainability of their branch. Every Community Branch will be able to apply to the Fund with investment being allocated on an individual basis

A focus for investment will be activity that helps grow business for the branch and which benefits its local customers. Together this will help the future sustainability of the Post Office in the local community.

About Post Office:

Post Office Limited has an unrivalled national network of over 11,500 branches across the UK, more than all the high street banks combined, and sits at the heart of many communities across the country. The Post Office has made a commitment to no more branch closure programmes. It provides around 170 different services and products spanning financial services including savings, insurance, loans, mortgages and credit cards. Post Office also offers Government services; telephony; foreign currency; travel insurance and mail services.

For more information, visit www.postoffice.co.uk

The Post Office has launched a £20m Community Branch Fund to help secure the long-term future of branches in villages and remote communities, and underpin their crucial economic and social role.

As the traditional banking network declines, community branches are critical in enabling local people to maintain access to the majority of high street banks, along with a wide range of other Post Office products and services.

There are around 3,400 branches across the UK where the Post Office is the only or last shop in the community. With a bigger network than all the UK's banks and building societies combined, around 18 million people use the Post Office every week and 99.7% of people live within three miles of their nearest outlet.

Subpostmasters will have the opportunity to make a case for funding to support the growth of their business and deliver benefits to customers to help the long-term sustainability of their branch.

The Community Branch Fund launch is part of the Government's £640m commitment to Securing the Future of the Post Office, as announced by Consumer Affairs Minister Jo Swinson in November last year.

A focus for investment will be activity that helps grow business for the branch and which benefits its local customers. Together this will help the future sustainability of the Post Office in the local community.

Paula Vennells, chief executive of the Post Office, said:

"The Post Office sits at the heart of thousands of communities across the UK. As a commercial business with a powerful public purpose, the Community Branch Fund demonstrates our commitment to our customers. Where many organisations are withdrawing from communities we are staying put, supporting all our customers wherever they are.

"We are changing to undergo the biggest transformation in our 370-year history. Customers are already seeing modernised branches with longer opening hours and developments such as Post and Go which are reducing waiting times, plus new products such current accounts and mortgages."

Contact - Post Office, Press Office

About the Post Office

The Post Office (Post Office Limited) has an unrivalled national network of over 11,500 branches across the UK, more than all the high street banks combined, and sits at the heart of communities in Northern Ireland, Scotland, Wales and England. The Post Office has made a commitment to maintaining its network of branches at its current size and reach. It provides around 170 different products and services spanning financial services including savings, insurance, loans, mortgages and credit cards; Government services; telephony; foreign currency; travel insurance and mail services.

The Post Office serves over 17 million customers a week and a third of small businesses. Some 99.7% of the total population live within three miles of a post office and over 97% live with one mile of a post office. For many rural communities, the post office is the only retail outlet. Post Offices branches remain highly valued and trusted, and are the focal point of many communities. For more information, visit http://www.postoffice.co.uk/.

Please note the Press Office team can only deal with enquiries from the media.  Unfortunately they do not have access to customer information so can not help with customer enquiries.

If you have an enquiry regarding any Post Office product or service please visit postoffice.co.uk or call 0845Local call rates apply. Call costs may vary depending on your service provider. Calls may be monitored or recorded for training and compliance purposes. 611 2970.