Danske Bank has written to customers to confirm that the Kircubbin accounts will be moved to Newtownards from the end of 2014.
Cllr Kellie Armstrong said: “I am disappointed that Danske Bank is to close their last banking premises on the Ards Peninsula. It means customers will have to travel to Newtownards if they need to complete any transactions in person.
“This is a further blow to the area following the loss of the Post Office in Greyabbey.
“Danske have said the closure is due to the increased number of customers doing online and phone banking. They had no comment to make on the fact that customers who prefer to do business over the counter will have to travel up to 15 miles to the nearest branch.
“I raised the fact that not all customers use internet banking. The ability to use the internet is extremely limited given the lack of appropriate signal strength in many nearby rural areas. Of the older people I spoke to today, following the announcement, they have confirmed they don’t use internet banking. They are very concerned another service is being pulled from the Peninsula.
“The only welcome aspect from today’s news is Danske has confirmed the closure will not cause any job losses.
“I have asked Danske to confirm if they will provide a bank machine in the village, they have said that they will respond to this suggestion shortly.
“I have already spoken with local transport providers, Down Community Transport to see if they can provide a link to Ulsterbus to enable rural dwellers to be able to get to Newtownards should they wish to continue to bank with Danske in the future.”