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The Halifax branch based in the Buttercrane Shopping Centre in Newry is closing in November leaving the nearest alternative for users the Portadown branch or a local Post Office.
Citing the reasons behind the closure a review stated that customers are using it less often and the majority of customers are also using alternative ways to bank.
A review has shown that customers have also changed their use of the branch with Branch visitors down 54% in the past 5 years and ATM use down 50%.
Speaking of her concern Newry and Armagh MLA Liz Kimmins said "It is deeply concerning to hear the announcement today of plans by Halifax to close their Newry branch on 8th November 2022.
"The announcement of this closure comes on the bank of a swathe of branch closures which is eroding the availability of banking services in small towns and rural areas across the north.
"This has devastating impact on older and more vulnerable customers as well as small local businesses who rely on face to face services.
"The future of banking services needs to be designed with community engagement, this was highlighted in the recent report of the Banking Roundtable convened by Finance Minister Conor Murphy.
The MLA concluded "Sinn Féin will continue to challenge the rationale for these closures and the loss of services which damaging to the small towns and the communities they serve."
