New community banking hub opens in Axminster

• Watch: ITV News' Richard Lawrence reports from the opening

A new community banking hub has opened in a town in Devon.

The hub, in Trinity Square, in Axminster, is a shared banking space offering face-to-face financial services.

It comes after LINK, the UK's cash access and cash machine network, identified the need for more cash services in the town following the closure of several bank branches.

The hub was opened by Richard Foord, MP for Tiverton and Honiton on Friday 24 November who said the banking hub has been "warmly welcomed" by the community.

He said: "The new facility will support those who rely on cash and feel more comfortable with face-to-face banking services."

Residents in Axminster have been left without a single bank in the town for over a year.

Ashley Nidd, who lives in Axminster, told ITV West Country the new bank is "good for the town."

"It's been a pain for the town not being able to pay money in for nearly a year now, so it's just great," he added.

The new hub has a counter service operated by the Post Office, where customers of all major banks and building societies can carry out regular cash transactions.

Customers can also talk to their own banking provider about any "more complicated issues" they might be experiencing as part of the community banker service.

The community bankers will work on rotation, with a different bank or building society including HSBC, Santander, Lloyds, Natwest and Barclays available each day of the week.

Cash Access UK, a not-for-profit company owned and funded by nine major banks, aims to protect access to cash by setting up banking hubs across the UK.

Gareth Oakley, CEO of Cash Access UK, said he was "delighted" that the new banking hub has opened in Axminster.

"We've seen how busy and popular the hub in Brixham has been and I know Axminster's hub will help local residents and businesses."