The last of the big banks has finally departed Alexandra, but locals in the tourism town are determined to protect it from the economic decline they fear so often follows when branches shut their doors.
Westpac has closed the most branches: 32 in Melbourne and 11 in regional Victoria. The company also closed 43 Bank of Melbourne branches.Robinvale and Sale communities had a win last week when Westpac announced it had backflipped on a plan to close their branches.
Grant St Grocer owner Lisa Harding outside her business. She is fighting for more banking services in her community.Lisa Harding, co-owner of Grant St Grocer in Alexandra, said the closure of the town’s NAB branch earlier this month meant she would need to find somewhere else to deposit cash, which she does about three times a week.
Alexandra shopkeeper and livestock business owner Andrew Embling has led the campaign for more banking services, but accepts Bendigo will not establish a full branch.Embling said bank closures hurt local businesses. Data from the Financial Services Union showed at least 169 Victorian bank branches closed or were set for closure since the start of 2021, including 53 in regional Victoria.Most recently, CBA announced plans to vacate its Fawkner branch in Melbourne’s north, prompting a 1200 person-strong petition.
An ANZ spokeswoman said most customers preferred the convenience of phone, mobile and internet banking, with 96 per cent of transactions conducted through digital channels last year. A CBA spokeswoman said the bank adopted a new operating model in 2021, and now has 20 “multi-channel branches” in regional Victoria, where face-to-face services are available from 9.30am to 1pm.
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