Fiona Whittet, a councillor in Bentham, said the closure of the town’s bank had removed an important focal point.
“For many people it’s difficult to access branches in places like Skipton due to limited public transport. People are also looking for guidance and advice on their accounts, savings and mortgages, and that’s been a real struggle,” she added.
Ali Hussain, owner of the newly opened Treasury restaurant in Whitby, said the decline of High Street banks was “hugely regrettable”.
“A simple banking trip can take up to three hours, costing valuable time and increasing environmental impact,” he said.
YNYCA said the fund would support “cash withdrawals and deposits, business banking and everyday account management”, with projects offering wider community benefits encouraged.
A spokesperson said support was targeted at places including Bentham, Filey, Leyburn, Haxby, Settle, Tadcaster and Whitby, where investment was “likely to have the biggest impact”.
Applications from organisations and partnerships were welcomed, with collaboration “strongly encouraged”, they said.
