Reed Urges HSBC Chief to Avoid Early Disposal of Shepshed Property

Loughborough MP Andy Reed has urged the HSBC to hold fire on the sale of its recently closed Shepshed branch.

Following the closure of the Shepshed Branch of the HSBC on 5 January Reed has implored HSBC Group Chairman Stephen Green to ensure that a quick sale does not jeopardise future opportunities to explore pilot joint/shared banking schemes.

The Treasury Select Committee in Parliament will be making their recommendations later in 2007 on the likelihood of pilot schemes nationally for shared banking.

Reed stated “clearly there is immense disappointment in Shepshed after such a robust campaign that the last bank in the town has closed.” He added “however in looking to the long term it would be tragic for Shepshed residents if recommendations due to be published by the Treasury Select Committee later this year, came out in favour of piloting shared banking, only to find that a very suitable property had already been sold off!”

In his further approach to Stephen Green HSBC Group Chairman, Reed also pointed to a study undertaken by the pressure group Transport 2000 showed that even on a fairly cautious calculation, a shared branch in Shepshed will save bank customers 1.4 million miles per year travelling to the nearest branches in Loughborough, saving significant extra damage to the environment.