‘Save our bank’: NSW town’s last bank closes as raft of regional branches shut up shop

‘Save our bank’: NSW town’s last bank closes as raft of regional branches shut up shop
A parliamentary inquiry has been arrange to take a look at the closure of financial institution branches throughout New South Wales regional and rural cities.

For Junee within the state’s Riverina, the inquiry could not have come at a greater time, with the final financial institution on the town asserting it is closing its doorways inside weeks.

The city of just about 7000 has banded collectively to attempt to save the final department within the space by lobbying the federal government and signing petitions. 

Commonwealth Bank branch in Junee closure, New South Wales.
Locals protest and yell “save our bank” as their final financial institution department in Junee closes. (9News)

Maisie Robinson, 89, has been with the Commonwealth Bank department since 1943.

She introduced her financial institution guide revealing a deposit of seven shillings she made as a nine-year-old to the protest.

“Not every one has got a mobile phone or a computer and not everyone can travel to other towns,” Robinson mentioned.

Other locals are additionally unimpressed with the closure of their solely department.

“I don’t like it,” Rita Webb mentioned. 

Leonie Wilson mentioned she was “a bit old-fashioned” and never used to utilizing a financial institution card.

Commonwealth Bank branch in Junee closure, New South Wales.
Robinson introduced her financial institution guide to point out how lengthy she has been a buyer. (9News)

Businesses such because the well-known Junee Licorice and Chocolate Factory are fearful in regards to the closure too.

“We are going to do our banking and our deposits in our neighbouring town of Wagga Wagga, which is about an hour round trip,” gross sales and advertising and marketing supervisor Rhiannon Druce mentioned.

“So it just becomes more pressure on us.”

Junee as soon as had 4 banks. Six years in the past it was two, after which ANZ left.

The Commonwealth Bank will shut its department on March 3.

“We regularly review our services across Australia to help inform decisions on where to open, renovate or upgrade branches, or in some instances where to close branches,” regional basic supervisor Norm Swift mentioned.

“After a recent review, we made the difficult decision to permanently close our Junee branch, which has had a 37 per cent drop in transactions over the five years before the coronavirus pandemic.

Commonwealth Bank branch in Junee closure, New South Wales.
Commonwealth Bank branch in Junee will close on March 3. (9News)

“We’ve redeployed the overwhelming majority of employees from branches which have closed, and are working carefully with our folks from Junee department to help securing acceptable comparable roles appropriate to their wants.

“We recognise some customers prefer to do their banking face-to-face and it’s one of the reasons we’re proud to maintain the largest branch network in the country.”

Swift mentioned the financial institution understood some clients most popular to do their banking in particular person.

“We invest around $50 million in our branch network each year to upgrade or refurbish existing branches and open new branches where we see customer demand,” he mentioned.

“Customers who prefer over-the-counter service still have access to this option, with other branches in the region at Wagga Wagga, Cootamundra and Temora.”

Commonwealth Bank branch in Junee closure, New South Wales.
Locals are calling for banking to be accessible for all. (9News)

The regional basic supervisor additionally pointed to banking choices obtainable at put up workplaces across the area.

But native solicitor Michael Commins, who’s in a wheelchair, mentioned the native put up workplace was not accessible for all to do their banking due to its step.

“Someone from Sydney has said we’re going to close Junee without sending anyone out here, any thought about disability, it’s not just me., you got prams, you got old people,” Commins mentioned.

More than 300 financial institution branches have closed nationally previously two years and it has prompted the Senate to announce an inquiry into regional closures.

“These communities have given those banks so much over so many years,” Riverina MP Michael McCormack mentioned. 

“They deserve better now. Junee is not going to cop this.”

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Source: www.9news.com.au