Leeds Building Society has promised to keep its Swansea branch open until at least September 2031, at a time when other banks are still pulling out of high streets across the region.
The pledge covers all 51 of the mutual’s branches across the UK. They will open every weekday from 9.30am to 4.45pm, with no appointment needed, the society says.
The branch is on Union Street, the same street as the Santander branch that could become a Work Café.
The small print says the promise is subject to “circumstances beyond our reasonable control, including legal, regulatory or safety requirements”.
A five-year promise while Swansea Bay loses bank branches
The pledge lands as other lenders retreat. NatWest’s branches in Llanelli and Port Talbot were due to close in early September, and Lloyds shuts its Gorseinon branch on 12 October.
Santander has said it will make no further closures until at least 2028 while it looks at turning its Union Street branch into a Work Café.
A few doors up Union Street, the Halifax could be next. Lloyds Banking Group is winding down the Halifax brand and moving its customers to Lloyds, and the Halifax in Llanelli closes on 3 November.
No closure has been announced for the Swansea branch, but a Lloyds already sits around 160 metres away on Oxford Street.
“We know that for many people in Swansea having access to a local branch still matters,” said Graham Binns, head of the society’s branch network.
“Whether it’s opening a savings account, getting help to protect themselves from fraud, or simply speaking to someone face-to-face, our branches provide a service that many members value.”
The society says 29% of the savings accounts it opened in the last year were opened in a branch, and almost one in ten branch users were aged 30 or under. Its branches also run free fraud clinics.
No new-customer-only deals, and a 6.5% saver for existing members
The society is also promising not to offer savings accounts that are only for new customers, and says existing savers will get exclusive deals.
One is a new Branch and Post Member Regular Saver paying 6.50%. The small print limits it to people who were members on or before 31 December 2025, with up to £250 a month and £3,000 in total over a year.
The rate is variable, the account can only be opened in a branch or by post, and one withdrawal a year is allowed without losing interest. The society’s own example, paying in the maximum every month, earns £89.38 in interest.
It says it aims to pay more than the market average. Over the past ten years, it says, its average savings rate was 2.26%, against a market average of 1.49%, based on figures from the data firm CACI.
Savers will be offered the best available rate on their chosen account when it matures, the society says. Its savings promises run until at least September 2027, while the branch promise runs to 2031.
“That’s why we’re making a clear commitment that our Swansea branch will remain open until at least September 2031,” Mr Binns said.
The full list of promises is on the Leeds Building Society website.
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