BANKING IN WEST CRAVEN

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Stanley
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BANKING IN WEST CRAVEN

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BANKING IN WEST CRAVEN

Since 2008 when most of the Western World's credit system collapsed overnight due to a combination of under-regulation, greed and mismanagement, financial matters have been constantly in the news. I don't intend to rake that bed of coals over again beyond expressing my personal opinion that the sight of executives being led out of the bank's headquarters in handcuffs might have a salutary effect. I'm sure that a lot of you will be as incensed as I am but before we leap to judgement it might be a good thing to look at the history so let's go for a wander into the past.
We start in 1855. How had credit and financial management in the West Craven area progressed since the Iron Age farmers? The answer is not a lot. We have documentary evidence in the Barcroft Papers of the 17th century of how the clothiers financed their wool purchases by means of loans from wealthy men and these loans were guaranteed by a banking system largely based in London which issued ‘letters of credit’ at a fixed rate of interest which could be redeemed by the holder at any time. There is also a suggestion that these wealthy men held funds for private individuals in strong rooms at their homes. The alternative was hiding it under the bed. These were the precursors of the banks and the letters of credit later developed into banknotes. There were no local banks at that time.
At a lower level domestic credit to tide a family over hard times came from a variety of sources, short term loans from family and friends and credit given by local retailers was important. Many older people will remember the famous ‘shop book’ which was still in use in the 1950s when I was a grocer in Sough. Trusted customers had monthly accounts which were a form of credit. There was no interest charge beyond the normal profit made on the goods sold. There was no other safety net apart from Parish charity or the workhouse. If a family ran out of sources of credit they were thrown on to the not so tender mercies of local charity. Conversely, if a family had surplus money there was nowhere for them to put it for safety.
In 1791 a group of Quakers in Skipton banded together and formed the first local bank in the area, Birkbeck’s, Alcock and Company trading as the Craven Bank. The Skipton bank was used by the business community in West Craven. The bank opened its first branch in Barlick in 1876 in Mr Dean’s front parlour, it moved from there to the shop next door. In 1891 they were at the corner of Church Street and then in Station Road. In 1910 they moved into purpose built premises in Newtown and were later incorporated first as the Midland bank and later as HSBC. It's a sign of the times that it is now a betting shop. Bear with me, more next week.

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The impressive Midland Bank building in Newtown in 1982.
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Re: BANKING IN WEST CRAVEN

Post by Stanley »

Bumped. Still an interesting story..... and credit is a hot topic at the moment as we face the worst economic crisis in over 40 years.
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Re: BANKING IN WEST CRAVEN

Post by Gloria »

Betting shops will be on the decline now, with online betting taking over.
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Re: BANKING IN WEST CRAVEN

Post by PanBiker »

The Midland Bank has entered a new status as a "land banked building", part of a giant portfolio of over 200 properties owned by one development company. They wont sell it, even for cash! Carpetbaggers, they will let it rot until they eventually get permission to turn it into flats to maximise profits.
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Re: BANKING IN WEST CRAVEN

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Without going over the top it's as well to remember scenes like this from around 2008 -

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Re: BANKING IN WEST CRAVEN

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You were right Gloria! Looking at the news today financial matters are still at the forefront of the news so we should remind ourselves of the history!
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Re: BANKING IN WEST CRAVEN

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Well, and then there were none!

Never thought I would see this in Barlick, not a single bank where you can do proper transactions! We have the Post Office of course and a pending banking hub where I believe the counter facilities will be run by the Post Office also. There is a major problem though with banking at the Post Office which has come to my notice since my trustee responsibilities now include banking the charity shop takings.

The problem is the paying in rules that the PO have. They only accept 3 full bags of coins. This causes an issue when you may well have 10 bags of coins to pay in. You cant do it all at once and have to make multiple visits. It does not take into account the increasing amount of "shrapnel" that you get where you cant make up full bags of any given denomination. This has a knock on effect to my recording of the shop takings and surrendering correct data to our accountants.. The problem is compounded further as I am also responsible for dealing with the charity collection tins and tubs which are predominantly, with exceptions full of loose change. An average £50.00 - £70.00) of loose change to deal with in every tin! I can understand why the Post Office has this restriction, I believe they are paid about 7p per bank transaction!

I can of course take it to our nearest surviving branch of the groups bank (Barclay's) which is currently in Skipton. I did this a few days ago to clear the backlog, I had about 30lbs of weight in bagged coins. Problem here is that it is 9 miles away and either a car or bus journey, it's closing in May and then the next nearest with full facilities will be Keighley or Burnley. The so called Barclay's Local branches which light up on Google maps are just information hubs where you can get advice,they do not do cash transactions in or out. We currently have one of those part time in the Rainhall Centre, I assume they will be moving 1 day per week to the banking hub when it opens.

I am one user in the town, multiply this by all the other organisations and businesses in the town that handle cash and you have a massive problem.
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Re: BANKING IN WEST CRAVEN

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PanBiker wrote: 17 Jan 2024, 15:48 I can of course take it to our nearest surviving branch of the groups bank (Barclay's) which is currently in Skipton.
Is the Skipton Building Society in the (Skipton) Barclays building too? The signage was up, and their original building locked up, when I walked past it on Monday.

I thought it was closing on March 7th...
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Re: BANKING IN WEST CRAVEN

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Didn't notice when I was in Kev.
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Re: BANKING IN WEST CRAVEN

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Just Googled it and it's still further down the High Street. Also the Head Office of course in the massive relatively new office build up Gargrave Road.
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Re: BANKING IN WEST CRAVEN

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PanBiker wrote: 17 Jan 2024, 17:34 Also the Head Office of course in the massive relatively new office build up Gargrave Road.
The Skipton Head Office is in The Bailey, just up the road to the right of the church opposite Skipton Castle. The big new office on Gargrave Road, opposite what was Keelham Farm Shop, is owned by the Skipton but is leased by Computershare (formerly HML). At one point me and my three offspring all worked for HML, we had the record for the most direct family members working there at the same time :biggrin2:
Eldest offspring is still working for Computershare.
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Re: BANKING IN WEST CRAVEN

Post by PanBiker »

I'm sure some part of SBS was in that building as we had a presentation there from them for Bosom Friends a few years ago. Myself and Sally attended on behalf of the group. They also put on a reception and meal for about a hundred volunteers from various local charities.
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Re: BANKING IN WEST CRAVEN

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Reading those posts makes me realise even more how badly served we are by our 'friends'.!
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Re: BANKING IN WEST CRAVEN

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PanBiker wrote: 17 Jan 2024, 22:47 They also put on a reception and meal for about a hundred volunteers from various local charities.
A correction on this aspect from Sally, the reception event was put on at the Head Office opposite the Bailey.
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Re: BANKING IN WEST CRAVEN

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Cant do right for doing wrong! I went to the Post Office to pay in the takings from our charity shop yesterday. It was a short week last week as we were closed for a couple of days due to the inclement weather. Not much footfall in the town either when we were open. Folk were stopping at home rather than risking broken limbs etc.

Anyway I had a few hundred quid in mixed notes 20's, 10's and 5's the rest was in three full bags of £1, 50 and 20p's. I had the notes lightly rolled and secured with a rubber band. All the lot fit in my pocket. Got to the till and presented the notes, "Oh no I can't count them because you have rolled them, very difficult to handle when you have done this"! I told her to blame the Royal Mint and not me and to get on with it. Not my problem that the notes are plastic. She asked me how much there was and I told her, she then counted it and confirmed! not so hard after all. :extrawink: I shoved my bags on the scales one at once inserted my paying in card in the machine, pressed green to confirm the total and got my receipt.

How am I supposed to present the notes, she took me to task last time for folding them along the length, did my best to take the creases out of some and thought I had done a reasonable job. Obviously no pleasing some folk!
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Re: BANKING IN WEST CRAVEN

Post by Stanley »

The one trait that I have identified in banks ever since I first started going in them 80 years ago is that they always start from the position that they are right no matter what the subject. The Post office is no different, as far as they are concerned we are not customers but underlings.....
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