Lloyds has announced that it will be closing its bank branch in Bargoed within the next few months.
The branch, which is on Hanbury Road, will close its doors to the public on October 1.
The news was announced on Wednesday, July 3 and was met by strong opposition.
Caerphilly AM Hefin David said that the closure will mean customers will have to travel to either Blackwood or Ystrad Mynach to access front counter services.
In a letter to Dr David AM, Lloyds Bank said 350 local people use the branch on a regular monthly basis, but the decision to close the branch was due to changing customer behaviour in recent years.
Dr David AM said: “The impact assessment shows around half of the regular customers are under the age of 60, so therefore not able to access a free bus pass. This will inevitably mean that travel costs to Ystrad Mynach or Blackwood will be incurred for those customers, as well as the inconvenience for all users.
“I’ve made arrangements to speak to senior management to discuss a number of issues such as the future use of the building and impacts on staff. There needs to be a focus on creating a community bank to open branches in towns like Bargoed and this is something the Welsh Government are exploring.”
Caerphilly MP Wayne David has called on Lloyds Bank to rethink the closure and said: “I regret the announcement by Lloyds Bank. The shutting of bank branches not only affects the customers who use the branch regularly, but it also damages local communities and high streets.
“I believe that we have a duty to ensure that there is basic banking infrastructure in our communities for all those who need it. Online banking is not something that is available for everyone. I will be working with Hefin David and Bargoed’s councillors to oppose the closure of Lloyd’s branch in Hanbury Road.”
A spokesperson for Lloyds Bank said: “We have made the difficult decision to close the Lloyds Bank, Bargoed branch on October 1, 2019 due to the changing ways customers choose to bank with us, which means the branch is being used less often. The majority of customers now regularly use other branches, or bank in different ways, such as online and telephone banking.
“We are sorry for any inconvenience this may cause; customers can continue to bank locally by visiting the nearby Post Office, which is 0.2 miles from the branch where they can withdraw money, check their balance, as well as pay in cheques and money to their account.
“The nearest alternative branch is Blackwood which is less than 3 miles away. We will be continue working with customers locally to support them with alternative banking arrangements.”