Banking

Community Bank Maldon & District is partnering with The Good Op Shop in Castlemaine and Haven; Home Safe (the regional housing support service in Bendigo) to run The Good Coat Drive throughout May and June. We are inviting the public to donate their old but good-condition coats to The Good Coat Drive so that those sleeping rough or struggling to keep warm this winter will have a little bit of extra help.

Senator Matthew Canavan and Member for Flynn Colin Boyce MP, have expressed their disappointment in NAB’s decisions to close the Biggenden branch ... "There are 47 community groups and 48 small businesses that are set to be directly impacted by the Biggenden branch closure. I urge NAB to support the community and keep this branch OPEN": Colin Boyce MP, Member for Flynn.

The Commonwealth Bank is closing a branch in an area it has itself labelled one of Australia’s most popular destinations for regional migration, breaking its pledge not to shut any regional branches while a senate inquiry into the impact of bank closures is in progress ... The Commonwealth Bank’s interpretation leaves Australia’s three biggest regional cities – Geelong, Wollongong and Newcastle – as well as the more densely populated regions along the east coast and places such as Bateau Bay, Gosford, Maitland, Murwillumbah, Raymond Terrace, Katoomba, Bacchus Marsh and Mandurah still vulnerable to the loss of their Commonwealth banks this year as they fall in the same category.

As our immediate community comes to terms with the Bendigo and Adelaide Banks’ decision to rip bank services from Barham, Cohuna and Pyramid Hill, three of 16 agency closures the Better Big Bank is implementing, the Finance Sector Union (FSU) is calling on the major banks to stop closing bank branches in metropolitan and regional areas while a Senate Inquiry into Regional Branch Closures is underway ... The FSU stated NAB refuses to acknowledge community concerns and has announced branches at Jeparit and Inverloch in Victoria will close. Branches at Boonah, Qld and Queanbeyan, NSW will also be shut down.

Michelle Daw. Bute's post office has the potential to become a thriving, privately run, business in the future, thanks to strong results achieved in the past decade under the management of Barunga West Council. That was the assessment included in a report by CEO Maree Wauchope, tabled at council’s April meeting. 

Cairn Curran Sailing Club is delighted to receive funding from Bendigo Bank for shade cloth ... Club members had been hoping to provide access to shade on the deck for many years and were thrilled when Bendigo Bank generously provided a grant of $12,000 towards the cost of the purchase and installation of the much-needed shade cloth.

More than 250 people gathered like David taking on the might of Goliath ... Event organiser, Andrew Gibbs, gave a passionate speech to the crowd as he expressed the disgust and injustice of the decision by the Bendigo and Adelaide Bank to close 16 agencies, including Pyramid Hill, Cohuna and Barham. 

The Bendigo Bank has announced that it will terminate 16 agencies as the bank seeks to build on last year’s measly profits of $488,000,000 ... Customer advocacy, satisfaction and community prosperity seem to be far from the driving force behind the decision that will see the closure of Barham, Cohuna and Pyramid Hill Bendigo Bank agencies on Friday, July 28, 2023. 

After steep falls in late 2022 and early 2023, many Australian agricultural commodity prices have stabilised, according to the NAB March Rural Commodities Wrap released on 27 March 2023. While the NAB Rural Commodities Index* was down 1.2% in February, almost all of the downside was driven by falling cattle prices as the industry faces parallel challenges of higher turnoff, processor constraints and tough global conditions.

The proposed closure of the Bank SA branch in Kingston will have a devastating impact on the township, its neighbouring communities, and businesses that rely on rural banking. This was the sentiment echoed by almost every member of the public who attended the committee consultation on the future of Bank SA organised by the Kingston District Council on Wednesday.

Contempt of the Senate is a pretty easy thing to get your head around. Witnesses at hearings who give false or misleading evidence run the risk of being hauled in front of the privileges committee for a “please explain” ... There’s a lot that could be considered as misleading in NAB’s testimony at Sale but saying they are “committed to being where its customers are” is the first outright fib given in evidence to this parliamentary inquiry.

Australia Post’s future lies in the ability of the public-owned service to diversify and meet the needs of a modern-day nation that is being strangled by grotesque free-marketeers, Katter’s Australian Party Leader and Traeger MP Robbie Katter has said ... Mr Katter said, with its well-established network of branches, an expansion of Australia Post into the personal and business banking space was in the “national interest” and now was a golden opportunity for transformation.

Today we learned three things: the Banking Code of Practice isn’t worth the paper it is written on, the format for emailing Westpac executives directly and that Anna Bligh’s Australian Banking Association will only engage with journalists who give them an easy run.

Just five months ago, a petition calling for an immediate moratorium on regional bank closures was signed off on by your government, published and subsequently received 5000 signatures. Yesterday, in defiance of a direct request by a senate committee investigating the economic and welfare impacts of regional bank closures to pause all planned closures while the inquiry was in progress, Westpac shut the last banks in the South Australian towns of Coober Pedy and Tailem Bend.

Australian agricultural commodity prices have continued to fall in the new year with the NAB Rural Commodities Index* now 14.4% below year-ago levels. Lower beef cattle prices and to a lesser extent, grain prices, are the key drivers of the weakening in the Index, according to the NAB February Rural Commodities Wrap.

I’m sure there will be beers all round tonight for the Westpac communications team who managed to flip the bird at six federal senators this week and pull off one of the most stunning PR subterfuges I have ever witnessed. It was stunning for the range of those who fell into the trap and the breadth of media who picked up and reported the story without question – from the senators themselves to seasoned journalists in national newsrooms.