It will open in the new year and is the first branch The Cambridge has launched in a new location in more than 10 years.

The branch will be at 29 Buttermarket and offers a footfall on average of 370,000 per month, reaching 425,213 in August.

Lucy Crumplin, chief operating officer at The Cambridge Building Society, said: “We are committed to offering customers the face-to-face service they still crave.

“We’re proud to be bucking the trend for branch closures1 by opening a new branch in a new location – the thriving and bustling community of Bury St Edmunds.

“For us it is about offering a personalised and flexible customer experience, from an expert our customers can trust.

“We were looking for a location within 30 miles of Cambridge to support our own people, but also to ensure The Cambridge brand resonates.

“The strength of the economy in Bury St Edmunds was also a deciding factor, with its strong retail sector and community investment in recent years.”