The decision by two major commercial banks to scrap the closure of several branches across small towns in regional South Australia has been dubbed “a win for the community”.
Bank SA and Westpac branches will remain open indefinitely in regional South Australian towns, including Naracoorte and Kingston.
The decision by the banks in February to terminate in-person banking in the regional communities angered customers, was condemned, and met with backlash from those who relied on rural banking services.
This forced the banks to postpone the closures pending an immediate Senate inquiry to determine the impacts of the closures on affected towns.
Kingston District Council CEO Nat Traeger said she was thrilled by the decision, which followed discussions with the community, the community meeting facilitated and hosted by council, and submission to the Senate inquiry.
“We are thrilled that Bank SA has seen fit to overturn their decision. On behalf of our community, our business community, the local Bank SA staff, and every customer who would have been adversely impacted if the branch did close its doors, we thank the decision makers for hearing our voice and placing importance on the future of regional banking in Australia,” Ms Traeger said.
In a statement, Australian Finance Sector Union national secretary Julia Angrisano said Westpac had finally caved into pressure from bank workers and local communities and been “shamed” into backing down.
“Back in February, days after the Senate inquiry was announced, Westpac said 20 branches would close,” Ms Angrisano said.
“By giving eight bank branches a reprieve, it has ignored communities and bank workers at the other branches.
“While everyone agrees this decision is the right thing to do, Westpac needs to be fair dinkum and cancel the closure of all 20 branches.
“Westpac’s massive $4 billion half-year profit demands that it stops leaving members of the community stranded without financial services and take responsibility for doing what the entire community expects a bank to do—provide access to banking for all Australians no matter where they live,” she said.
Ms Angrisano said this doesn’t mean travelling a hundred kilometres to the next branch or lining up at already overworked post offices.
“The banks and the Australian Banking Association have been telling the community for years that branch closures are simply about responding to changing customer preferences.
“Now we know, by this decision, that this is a sham argument designed to con an unsuspecting customer base.”
This article appeared in the Naracoorte Community News.
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