Stokesley is to get a banking hub after Rishi's invention.
Banking chiefs initially said the town did not meet the criteria for a hub after the town’s last bank branch – Santander – closed in July last year.
But Rishi questioned the data used in reaching the decision and asked for a further assessment of the town’s banking needs.
LINK has announced that following Rishi's intervention, a hub will be established in the town providing access to cash and housing representatives of the main High Street banks on certain days of the week.
Rishi said he was delighted by the news.
He said: “I had seen the success of the banking hub established last year in Richmond and I was puzzled that a similar-sized community was deemed not to meet the criteria when LINK carried out its initial assessment of the town’s needs.
“I sought clarification of the data used to reach that decision and pointed out to LINK that the situation in the town had deteriorated further since it carried out the first review in March 2025.
“The rethink is very welcome and many residents and businesses will be pleased that the town is to get a banking hub which will help to keep the High Street vibrant during difficult times for town centre businesses.”
Rishi thanked Stokesley Town Council and Richmond (Yorks) area committee of North Yorkshire Council for their support in the campaign for a hub.
Dr Chris Ashton, Chief Commercial Officer, LINK: “While more people are choosing to bank and pay for things digitally, we know that many people still rely on cash and face-to-face banking. That’s why we’re delighted to recommend the banking hub in Stokesley.
“When it opens, the Stokesley banking hub will be a huge boost for the local community and high street.”
Stokesley is the fifth banking hub to be recommended in North Yorkshire, with hubs in Filey, Knaresborough, Richmond and Whitby already open for business.
LINK is the organisation responsible for the nation’s ATM network and has a responsibility to ensure everyone has access to cash services.
The Stokesley banking hub will now be delivered by Cash Access UK, a separate organisation funded by the high street banks. Over the next few weeks, it will begin to engage with the local community and will start to look for potential sites. There are currently more than 237 hubs open across the UK.
