In response to the announcement by Caixa de Crédito Agrícola Mútuo do Sotavento Algarvio regarding the partial closure of branches in Alcoutim (on Mondays, Wednesdays and Fridays) and Martim Longo (on Tuesdays and Thursdays), effective August 5, 2024, the Mayor of Alcoutim, Paulo Paulino, met with the institution's Board of Directors.

During the meeting, Mayor Paulo Paulino highlighted the vital importance of these branches for the community, stressing that in rural areas such as Alcoutim and Martim Longo, access to banking services is already limited, making the continuity of the service essential for the local population, especially for business owners and farmers.

The Board of Directors justified the measure based on a profitability analysis and the shortage of available staff, factors that, according to them, made it necessary to adjust the opening hours.

The Mayor called on the Board of Directors to reconsider the decision, warning that the partial closure of the branches not only harms the convenience of customers but could also have serious consequences for social cohesion and the economic development of the region.

He argued that it is crucial to find solutions that balance the financial sustainability of the institution with the need to maintain an accessible and effective service for all residents.

“Alcoutim City Council reiterates its commitment to working with Caixa de Crédito Agrícola and other stakeholders to explore viable alternatives that minimise the negative impacts of this decision on the population”, stating that it continues to work actively to ensure that all residents and businesses in the region have continued access to essential financial services.