Newcastle Building Society has announced plans to open a branch in Knaresborough - a move that follows the closure of the town's last bank in February last year.
The new branch - developed in partnership with North Yorkshire County Council - will be in Knaresborough library and will create four jobs.
It's the latest part of Newcastle Building Society's multimillion-pound branch investment programme.
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Representatives of Harrogate Borough Council approached Newcastle Building Society to protect access to financial services for Knaresborough's 15,000 strong population.
North Yorkshire County Council and Harrogate Borough Council have since worked together to bring forward the plans.
County councillor Greg White, North Yorkshire's executive member for libraries, said: “We are delighted to be welcoming Newcastle Building Society into Knaresborough library later this year.
"They already offer a community branch in Hawes library which has proved very popular with those who need access to cash, and is a great way of multi-purposing an already well-used building.
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“The offer of financial services promises to increase footfall into Knaresborough library and encourage new visitors through the doors. We look forward to seeing its grand opening in the summer.”
This newest community branch is expected to open later this year and will become Newcastle Building Society’s 31st branch across the North East, North Yorkshire and Cumbria. It follows the successful launch of two rural community branches in Hawes, North Yorkshire, and Wooler, Northumberland, which opened in February 2020.
Newcastle Building Society's brand investment programme also includes finalising the refurbishment of its branch in Bishop Auckland, relocation of the West Denton branch to a more convenient and prominent site and the planned opening of a Tynemouth branch in early 2023.
Andrew Haigh, chief executive officer at Newcastle Building Society, said: “We believe in the value of face to face customer contact and maintaining a physical presence within the communities we serve. We’re absolutely committed to our high streets which is why we continue to invest in our branch network and to provide innovative solutions to fit the individual location’s needs, often working in partnership with councils and active local community groups.
“A vibrant high street is essential to the wellbeing of our communities, so despite the ongoing trend of bank branch closures we’re working hard to create innovative and sustainable services for local people. We have exciting plans for Knaresborough so we’re really looking forward to getting started and playing our part in helping this community to thrive.”
Coun Graham Swift, Harrogate Borough Council’s deputy leader and cabinet member for resources, enterprise and economic development, said: "The issues regarding banking availability in Knaresborough have been well documented, and Harrogate Borough Council has pushed hard to seek new solutions.
"I’d like to thank North Yorkshire County Council and Newcastle Building Society for supporting our ambitions to provide this vital lifeline for the residents of Knaresborough.
“I’m delighted that Newcastle Building Society will be opening a branch in Knaresborough Library and I hope local residents use this service as much as possible."