Just weeks after announcing the closure of 10 branches – five in regional communities where they are the last remaining bank branch – Bendigo Bank has announced a further and deeper cut, gutting its agency network.
The Finance Sector Union retains deep concerns about the ability of banks to unilaterally make significant cuts to their service- and to rural and regional communities. It continues to pressure the Federal Government to make regional banking a priority issue.
These closures are scheduled to begin in October and affect the entire 28 agencies in New South Wales, Victoria, Queensland, South Australia and Western Australia.
Finance Sector Union Assistant National Secretary Nicole McPherson said:
“Clearly Bendigo Bank hasn’t heard the level of outrage their last branch closures caused and have decided to make further savage cuts to their banking services. No amount of spin about their proud regional heritage or the preferences of customers takes away from the reality that Bendigo Bank is putting profits before people.
“Over half (15 out of the 28) of these agencies are being cut in communities where they are the last banking service present. This is an incredibly cruel blow to small towns who deserve a local banking presence.
“Bank at Australia Post – which Bendigo Bank is claiming to be a solution for some customers – provides some basic services but is not a full-service bank. Accounts can’t be opened or closed there among other basic services that these agencies have been providing.
“It’s been almost 14 months since the Senate Inquiry into regional banking handed down its report calling for banking to be regulated as an essential service, especially to protect regional communities. We’ve written to the local MPs in the regional communities affected by this closure asking them to stand up for these branches, and the workers who staff them.
“The Finance Sector Union has also raised the issue of consumer and worker regulation of banking with new Assistant Treasurer and Minister for Financial Services Daniel Mullino MP. It is critical that the federal government step in and protect bank workers and customers given the banks have proven themselves to be incapable of doing anything other than putting profits and shareholders first.”
Media contact: David Imber – 0413 274 204
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