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Municipal bank is set to close after a vote by councillors

East Dunbartonshire Council is to close its Municipal Bank following a vote by members on June 26.

Arrangements will be made in the coming months to wind up the bank.

A detailed plan of the closure and the timescale for this taking place will now be prepared, and the first step of this process will be a meeting of the Directors of the Bank, which will take place after summer.

Council leader Rhondda Geekie said: “Our Transformation Programme is designed to ensure that all aspects of the council are as efficient and effective as possible and this decision has been part of that process.

“As soon as the closure details, including the timescales are available we will be advising all employees and Municipal Bank customers of the arrangements being put in place.

Until then, all bank business will continue as usual. The bank has had a long-term presence locally and the council’s Financial Inclusion Strategy will be focussed on smoothly facilitating these changes.”

 

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