THE group set up to tackle the issues created by the bank exodus in Frome, Prosper Frome, is gathering support and energy.
The group held a meeting on Wednesday 5th July at the Cheese and Grain, where around 20 people discussed how to move forward.
One of the group’s leaders Jean Boulton said, “We had a very good third meeting. Attendees included representatives from Mendip Credit Union and We Hear You as well as Frome Town Council. There were also several people who have contacts and knowledge of the banking and post office sector and some of these are new to Frome. Others came to represent those who cannot easily use the internet or hop over to Trowbridge or feel confident with matters financial. We’ve had messages of support from Somerset councillors as well as the town council.
“We are kickstarting initiatives to explore further what is needed and find solutions. We’re liaising with Health Connections Mendip and Frome Community Education, and we’re going to be doing more interviews to find out in more detail what people need.
“We’re also looking at premises to explore establishing a community hub with a ‘financial matters’ flavour. Maybe a community post office, spaces for small businesses and the public to come for advice and support, maybe offering hot desks for professional service personnel, perhaps other community uses and meeting spaces. We’ve got to find a business model to make this work. If you have suitable premises or are interested in a ‘Whatcombe Fields’ sort of community purchase, please get in touch via our website and do sign up to our newsletter while you’re there.”
The group is also researching and calling for the support of the community to keep sharing ideas. Jean said, “We’re also doing research, into community banking, finance hubs, ‘banks in a van’, ways of paying in and obtaining cash when banks are no longer available. If you are travelling around the country, do note what facilities other towns have. Do they still have banks? Do they have finance hubs or vans that visit once a week? Do they have a central post office? What services do their building societies offer? All intelligence as to how other towns are dealing with the abandonment by the banks would be very useful in piecing together the art of the possible.”
Prosper Frome are also interested in how to provide support to local small businesses. Jean said, “Finally we’re interested in how we support independent enterprises and startups in Frome – can we at least help to signpost people towards advice, support, loans and grants. There are also schemes which might allow us to act as a dating agency between those interested in ‘altruistic loans’ and those looking for investments to take another step on the ladder. And we’re planning an ‘angels’ den’ activity in the autumn. Prosperous towns have vibrant business communities, where new enterprises can become established and offer meaningful livelihoods and jobs and opportunities.
“We’re going to spend the summer continuing to find out more, as well as linking with other agencies and seeing what can be stitched together. Please get in touch, via www.prosperfrome.org if you can help with any of this. This is a community initiative. And Frome is good at these things!”
