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 Big acorns from little
apples?
 That Martins Bank had Branches
at TEN university sites throughout England by 1969, did not come about
overnight. Students are the
professional classes of tomorrow, likely to have a large income, AND the need to have that income
looked after by a bank. The concept of banks offering a dedicated, often
campus-based Branch, was the brainchild of Mr William T Green (pictured,
right) a member of the Bank’s Staff in Liverpool, who became the Assistant
Manager of the first University Branch, which opened in Liverpool in
1958. He had the original idea in
1956, but operational constraints meant that the Bank could not progress
with opening a branch for a further two years. That however, is still not the beginning
of the story. Since the “Silver
Linings Savings Week” of 1948, Martins Bank had provided what we might
nowadays term “pop-up” branches at a wide range of venues and events, in
particular through the use of its fleet of six mobile branch caravans
during the annual country show season.
 The bank also appeared at
trade shows and events, sometimes using temporary pre-fabricated buildings
and, more often, purpose-built stands – some of which (like this one) could
be taken apart and then re-used at other locations. The FIRST year for which we can find reference to the
appearance of a Branch of any type at a University, is 1953, when Martins
Bank opened a temporary branch in the reception room of the Students’ Union
at Liverpool University from 2nd to 9th September. The occasion was a
meeting of the British Association for the Advancement of Science, which
had chosen as its venue, the University at Liverpool. The advertisement shown here is generic
copy from the Bank’s “Stately Homes of England” campaign, and you might be
forgiven for almost missing, hidden
in the middle of the advertisement, the announcement of the establishment
of the temporary branch which will be open at the University for just the
eight days of the meeting of the Science Association.
Gloves on, gloves off…
The fight
for representation on University campuses is fierce, and often made more
difficult by the Universities’ own
bankers who, invariably, are given first choice over prime customer
sites. In this feature we will look
at what Martins Bank has to offer to students, against the background of
the story of how the Bank – against a number of odds – works for nearly FIVE YEARS to secure one of only two prime
retail sites at LANCASTER
UNIVERSITY in the 1960s, a Branch that along with a
Liverpool University Branch (moved to the campus itself in 1967), stays
open until January 2021.
As we
shall see further down this page, competition between the major banks for
the banking business of students becomes ever more cut-throat, resulting in
a bewildering array of free gifts, and perhaps a little dangerously the
provision of larger limits on ever cheaper overdrafts, credit cards and
loans. Tie this in with the almost
obscene promotion of hard-sell techniques over that of traditional customer
service, and hindsight allows us a sobering glimpse of why, perhaps, so
much went so wrong with Banking in the 1990s.
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Images © Martins Bank Archive Collections
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A
bright idea…
Student Banking,
through the provision of on-or-near-campus facilities is suggested to the
Bank as early as 1956 by William T Green.
Mr Green, who joined the bank in 1947, has made good progress,
working his way through the Institute of Bankers Examinations, and building
a reputation as someone who keeps both the operational needs of the bank,
and the needs of its customers firmly and fairly balanced. Thanks to his
Daughter Fiona, we are able to reproduce here a number of letters which
chart the setting up of Liverpool University as the first student service
branch, and which show that good ideas from members of the staff are taken
seriously. Mr Green is given the job
of Branch Second, and works his way up to a full “Pro Manager” signing
position which allows him to fully deputise for the role of bank manager…
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Images © Martins Bank
Archive Collections – F Winter
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From Mr Green’s
initial suggestion, which was sent into the Bank in October 1956, it takes about
nineteen months for the Bank to be able carry the idea to fruition, with
the opening on 1 May 1958 of Liverpool University sub-branch.
It is interesting
to note from the Bank’s initial response in 1956, that Martins Bank’s
expansion programme is quote “overloaded”, as the business is pushing hard
into areas of England and Wales to create a more national distribution of
outlets.
In the letter, Mr
J A Banks talks optimistically of “breaking fresh ground”, yet despite this
large financial commitment, he thanks Mr Green for his initiative, and
promises to keep him advised of the development of a University Branch.
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Sure enough, in
January 1958 the Bank writes once more to let Mr Green know that such a
branch is very much on the cards within a few months, and Mr Green,
keen to be in at the start of this exciting new venture, wastes no time in
sending his suggestions for how it all might come together, AND work in practice.
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 By the end of April 1958, he is
rewarded by the offer of occupying the “second position” at the new Branch,
a job which at that point in time was broadly equivalent to that of an
Assistant Manager. Finally, after more than nine years at Liverpool University
he is promoted again and thanked for his “good work at this specialised
Branch”. Once
open, Liverpool University Branch attracts the attention of the Architect
and Building News, which publishes this spread once work is complete – the
Branch itself is a renovated former shop, and as Martins sees university
banking as something of an experiment, the whole thing is put together with
the cheapest fixtures and fittings available that will serve as a bank, yet
still attract the “tomorrow people” that Martins wants as its customers.
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Staking a claim ...
 Martins Bank learns much from its early involvement with Britain’s
newest Universities in the late 1950s. Careful monitoring of student banking
habits at Liverpool University provides valuable information, both on the
ways in which students conduct their accounts, and, more importantly, on the
costs that will be involved to Martins in providing free banking and
maintaining local Branches at further and future Universities. As the 1960s progress, and more new red
brick and concrete establishments of learning are brought into being, a
policy begins to emerge, where universities restrict the sole or main use of
banking outlets on their grounds to those that act as their bankers. This is certainly the situation at Lancaster,
where Martins spends almost five years staking a claim to being able to offer
its services to students.
The District Bank, has a very strong
local presence and its role as to the
University of Lancaster means it already has its feet firmly under the table.
On top of this, the University is itself keen to choose a bank that knows and
reflects the locality. Thankfully, Martins Bank also fits the bill by having
a blanket coverage of local branches and undisputed Northern roots – and it
will not take the situation lying down!
The process of wooing the University authorities
at Lancaster begins in 1963, even before the University receives its charter,
and it culminates in the successful establishment of a branch alongside the District Bank in
the main shopping area of the University – Alexandra Square. Along the way Martins encounters the usual
suspects – low key introductions to high profile personnel on both sides,
followed by offers of dining out, and then more formal meetings. The
Bank’s original overtures to the University seem to have paid off, and they
are informally offered a place.
However the whole process is then turned on its head by a tendering
process, which the University feels will make it all look fair, and Martins
must bid along with the other banks for what is in reality just one place –
the other destined almost certainly go to the District Bank. That Martins Bank is successful – at what
is understood to have been an incredibly heavy initial price – goes without
saying and the branch that served students at Lancaster continuously until
closure in 2021, was opened first in temporary premises in 1966, and then in
its permanent shop front outlet in Alexandra Square in 1968.
Researching
the Student Market…
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Mr W O Davies
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 We are
indebted to our friends at BARCLAYS
GROUP ARCHIVES for their research on our
behalf into the Martins’ Branch at Lancaster University, and for making a
number of key records available to us for this feature. We begin in August 1963 when Mr W O
Davies, Liverpool Assistant District General Manager, writes to Mr I
Buchanan, Liverpool District General Manager, to make the case for actively
pursuing University outlets for the Bank. Research has shown that almost as
soon as new Universities are announced, the fight begins amongst the Banks
and others, including insurance companies, to access the student
market. Mr Davies wants his boss to
understand how crucial it will be for Martins to build on the success of
its Liverpool University branch, and try for a place at Lancaster…
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Mr I Buchanan
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Image © Barclays Ref 0025-0613a
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“We
have recently been making enquiries into the possibility of opening
Branches in the precincts of new universities which are in course of being
established. In the case of two
Universities in the South of England it has been found that Barclays Bank
as Bankers to each University had received the right to establish a Branch
within the precincts and that representation was not being extended to
other Banks. Such arrangements clearly give Barclays the opportunity of
obtaining valuable future customers to the exclusion of the other Banks.
We are
anxious to establish whether similar arrangements may apply in the case of
other new Universities, and we should be glad if you would ascertain as
discreetly as possible the opportunities for representation that will arise
in the case of the new University at Lancaster in so far as establishing a
Branch within the precincts is concerned? or whether sole
representation is likely to be granted to the Bankers to the University”
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Two days later, Mr Davies writes again, this time to Mr L G Tunnah,
Assistant General Manager at Head Office, with an update on what is a fast
moving situation:
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“Further
to my letter of the 14th instant, I am now able to report that at a recent
meeting of the authorities in Lancaster it was decided that the
banking business of the new University would be placed with the District
Bank.
By
tactful lobbying in advance our Manager had solicited the support of
several members of the local Education Committee on our behalf but it seems
that the matter was virtually a fait accompli when it came before the
meeting.
With
the hold they already have in the County, both at Lancaster and Preston, it
is evident that the dice was fairly heavily loaded in favour of the
District Bank.
We have
asked Mr. Young
to keep this matter well in mind, and he will advise us should any possible
opportunities present themselves for our obtaining representation within
the University precincts”.
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Image © Barclays Ref
0025-0613a
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A Fait
accompli…
  As feared, the
competition - in the form of the District Bank - has won the right to be
Bankers to the University. This will
guarantee them a retail outlet on the new campus when it opens. Between 1963 and 1966, Martins Bank’s
Lancaster Manager, Mr Youdell (pictured, right) has the job of keeping on the
friendliest terms with the University, and remaining vigilant to any news
that another retail outlet may be up for grabs. His “tactful lobbying” is much appreciated
by Liverpool District Office, and it will eventually bear fruit – rather
expensive fruit: After much deliberation, two banking units are proposed in
the main shopping area of the University, and these are put out to
tender. Wisely, the University wants to
be seen as fair, and to attract the highest bidder for the two leases. The price paid must be the same for both
winning banks, which means that although the District Bank will be one of
those winners, it too, will be expected to dig extremely deep for the
privilege.
Doing the
maths…
Having secured its place at University, Martins Bank must now make the
venture it pay for itself in the long term.
Even as long ago as 1963, the cost per student to Martins of offering
free banking seems very high at £15.
That’s - £245 per student based on the increase in retail
prices over the fifty years between 1963 and 2013, or £540 per student
if based on average earnings over the same period! There is no doubt that the long-term
advantages are good – a graduate who becomes a high earning professional is
likely to need to call upon the Bank’s financial expertise. The facts and
figures are mulled over by top brass of the Bank, who are presented with this
feasibility paper in January 1964…
1. So
far we can measure the success and the cost of our university branch
programme, only by our
Liverpool experience.
2. We cannot
expect to be as successful in attracting undergraduate accounts in other
places as we have been in Liverpool.
3. We
have obtained in Liverpool about 400 undergraduate accounts per annum and, of
these, we can expect to retain, say, 250 after graduation either at the
branch or at other branches.
4.
Our loss will probably persist in the £3,000 per annum range plus, say, share of
special advertising £1,000 per annum. So it is costing £4,000 to get 250
graduate accounts - say, £15 upwards per account.
5. I
would be prepared to regard this as a worthwhile expenditure to obtain the
accounts of this type of person.
6. We
should continue our policy of opening branches to serve universities and
where- existing branches place us at disadvantage to other banks by reason of
location we should consider special university sub or full branches.
7. It
is open for investigation in particular cases whether the best result would
be obtained by being in the university precincts or in a situation convenient
for students but also available to the public.
8. We
should enquire of all branches in university towns
(a)
The average number per annum of undergraduates obtained as customer (show
male/female separately).
(b)
Proportion who remain with:-
(i) the branch
(ii) other branches of the bank
after graduation (male/female
separately)
(c)
Whether they recommend any special facilities, e.g. new sub branch.
We should co-ordinate our publicity efforts with the
activities of relative branch managers
who should be more fully aware of what is being done.
Moving
in…
 To begin with, Lancaster
University itself is based at St Leonard’s Gate in the centre of the City.
Thanks to the gentle persuasion of Lancaster Manager Mr Youdell, a room is
made available from 18 October 1966 for Martins Bank to offer banking
services to students, Monday to Friday, between 12 noon and 3pm. Princess Alexandra is appointed Chancellor
of Lancaster University in 1964, and remains in this position for the next
forty years. The permanent buildings are
finished and occupied in 1968, and the main thoroughfare and shopping area is
named “Alexandra Square” in honour of the Princess. On a tour of the new University, she is
photographed looking through the windows of the new branch. Martins Bank has arrived, and five years of
effort have paid off. Lancaster
University sub-Branch is upgraded quite quickly to Self Accounting status,
with its own sorting code and a clerk in charge available to make on
the spot decisions on student lending.
The following year, Lancaster University Branch is given its own
newspaper publicity (see “1969– How to make your money go further…” below) .
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1961-4 My
Bank’s Martins…
 Martins goes to extremes to help
students and young workers make the most of their limited budgets. These are
the days of the student grant, a precious commodity that has to be eked out
in baked beans, beer and rolled up tobacco over the year… The names of
Managers and their contact details are prominently displayed, and staff at
Martins Bank’s University Branches are trained to help students stretch out
their grant, or tide them over with a student overdraft. From 1961 to 1964 Martins Bank’s advertising
strategy employs the services of some “decent sorts” for a campaign that
should convince their fellow students that using a bank is the right
thing to do. Perhaps keeping your
money in a sock has finally been recognised as a bad move.
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TOP ROW left to right
1961 Liverpool University Student Magazine ‘PantEcho’
1961 Leicester
University Student Handbook
1961 Freshmen’s Guide to
Teacher Training College and The Technical College Freshmen’s Guide
BOTTOM ROW left to right
1961 Student Publications at Leeds and Oxford
1962/3 The Cambridge
University Students’ Union Varsity Handbook, 1963 “Sphincter” the Liverpool
University Medical School Magazine. 1962/3 The Birmingham University Guild
of Undergraduates’ Handbook.
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Images © Barclays
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1968 - Making the
most of your money
Even on the eve of the merger, Martins is still going all out to grab a
slice of the student market. Making
the Most of Your Money, and About a Bank Account are among the last to be
seen before the ubiquitous “a member of the Barclays Group” starts to
infiltrate publications.
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Images © Martins Bank Archive Collections
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Image © Barclays
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The
swinging sixties gives Martins the opportunity of a lifetime – to cash in at
last on the valuable youth banking market.
Advertisements aimed at students and young wage earners send out the
simple message that help is at hand, and that what little money these people
have is also SAFE. By March 1969, adverts such as the mid-sixties campaigns
‘Counting Up’ and ‘Money for leisure, too’ have given way to the slightly
bolder ‘How to make your money go further’, (see earlier in this feature)
which is carefully calculated to play upon students’ fears that everyone is
out to take their money, and that only a bank can make sense of it all. The
key selling point for these services is to show how they give control back to
the customer. Such control is however about to change hands forever, as at
the height of this campaign, the takeover of Martins Bank by Barclays is
almost complete…
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Image © Barclays
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ADVERTISING
TO STUDENTS
PUBLICATIONS
For
1968 a new advertisement has been designed, relating more closely to the
special leaflets produced by the Bank for students. It will appear in
general student publications and, mainly during the Autumn Term, in the
student newspapers and magazines of Universities with a Branch of the Bank
nearby.
NOTICE BOARDS MAGAZINE RACKS AND STAMP
MACHINES
Special
contractors install these free of charge in many educational
establishments, the cost being met by the sale of advertising space on or
adjacent to them. In consultation
with District Offices, they are used to advertise the services of local
Branches in some 300 universities, colleges and schools.
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By the mid to late 1960s the Bank
has a co-ordinated plan for attracting the custom of students. Fundamental
to the campaign are these special leaflets produced each year by the Bank
in time for university freshers’ week. Whether there is a Martins Bank
Branch on campus or not, there is a leaflet for just about every university
in England. Packaged either as
“About a bank account” or “You’ll need a bank account whilst at the
university” each leaflet provides information about student banking, local
maps of campuses or town/city centres, and occasionally photographs of
branches. Students are reminded that
Martins Bank is especially friendly to students, and that is why so many
student Bank with them.
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1969 – How to make your money go further…
Image: ©
Martins Bank Archive Collections
Carry on Campus - Martins Bank’s University
Branches…
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Bradford
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Bristol
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Durham
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Lancaster
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Leeds
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 Liverpool
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Newcastle-upon-Tyne
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Sheffield
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York
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