TAG
regional bank closures
NAB desertion a continued disappointment: Canavan, Boyce
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.
Commonwealth Bank breaks pledge to pause regional bank closures
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.
Banks ignore community concerns, shut more branches
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.
Buloke Times editorial: Banking closures
The situation about bank closures is clouded. Over a year ago, the “Times” published its last editorial on rural banking. At that time, a study was to be made by a Rural Banking Taskforce, giving the final result in April 2022 ... Since the Taskforce investigation produced its pre-election final report on September 20, 2022, more than 80 regional banks have closed or have closure notices issued.
Community rallies as ‘better bank’ cashes out
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.
Goodbye Stawell: Bendigo Bank agency closure marks the end for community banking
Residents of Stawell and surrounding towns have been deserted for the greener pastures of the digital realm, with Bendigo and Adelaide Bank suggesting that an investment shift toward phone and internet banking services is behind a decision to permanently close the Bendigo Bank Agency located at Fosters Mensland in Stawell ... With an aging demographic, many residents in Northern Grampians Shire rely on consistent face-to-face interaction and prefer to bank with representatives they know and trust.
Community rally as agency to close
Community members across Murray River and Gannawarra local government areas continue to express their dismay at the Bendigo Bank’s decision to close the Barham, Cohuna and Pyramid Hill agencies. The bank claims the closures, along with 13 others, are due to the number and value of over-the-counter transactions falling as more customers choose to do their banking online ... This week, a meeting was held between Bendigo Bank executives, Member for Murray Plains Peter Walsh and a representative of the Gannawarra Shire Council.
The better big bank abandons communities
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.
KPMG study on customer-owned banks in communities
The KPMG report Sector Impact Assessment of Customer Owned Banking in Australia found that the 61 customer-owned banks have five million customers and represent 70 per cent of Authorised Deposit-taking Institutions (ADIs) in the Australian market. And despite their relatively small share of market assets ($158.8 billion compared to $4,370 billion for the major banks), the contribution of customer-owned banks to people and communities is proportionately greater.
Plea to banks
Shadow Minister for Regional South Australia, Nicola Centofanti, is pleading with banks to not remove their services from Naracoorte and its surrounding townships. Ms Centofanti said while it was unfortunate, the Liberal Party was “seeing an alarming trend” where banks are withdrawing their services from regional centres in South Australia.
