A TOWN centre butcher is backing plans to bring banks back to Rochford thanks to a £100,000 grant.

Rochford has been chosen to take part in a pilot scheme which will see up to £100,000 used to ensure residents, particularly the elderly, have access to their cash.

Barclays was the last bank to pull out of the town three years ago leaving 18,000 residents reliant on plastic or travelling out of town to main branches.

It is part of a ‘community access to cash pilot’ launched by former boss of the Financial Ombudsman Service Natalie Ceeney. This follows the publication of a Government-backed Access to Cash Review she wrote last year – setting out the desperate need for people to have access to cash.

Jason Macaree, 49, owner of butcher J Mac Meats, said: “I think this will help a lot.

“It will certainly help customers who prefer to use cash.

“The banks shutting has put a lot of pressure on the post office and people are fed up with having to queue up there for ages. The banks keep telling us all to bank online – but only because it saves them money and not because it’s what people always want.”

“For my business, about half the customers still insist on using cash.”

Two Rochford councillors, Lib Dem Craig Cannell and Independent George Ioannou, are spearheading the project to open a shared community bank in one of the still-boarded-up premises once occupied by NatWest and Barclays. It will mean customers of all the major high street banks will once again be able to withdraw and deposit cash.

Mr Ioannou is a retired director of financial credit ratings agency Standard & Poor’s. Mr Cannell is a former online banking analyst who now develops mobile phone apps for a living.

He said: “The introduction of an Access to Cash Banking Hub will stimulate the local area by supporting local businesses and residents but also encourage new businesses into the area.”

“As the current service provision levels do not support the planned additional housing for the area, we need to compliment house building with schemes that increase service access, such as the ability to bank locally.”

Mr Ioannou added: “We are working towards a community banking hub that will regenerate the financial sector within areas of Rochford and Hockley to stimulate support to the local businesses and residents.”

A survey was carried out in July, which quizzed residents on their views of banking returning to Rochford.

He added: “The community have been waiting for three years to reintroduce local financial stability to the area and with this pilot scheme will help achieve our goal”.