AN organisation that aims to help grow the Merbein region has encouraged customers of Australia’s big four banks to vote with their feet in the wake of the Commonwealth Bank’s closure of its local branch.
The Commonwealth recently announced it would permanently close its Merbein branch following a temporary closure due to COVID-19, leaving only the Bendigo Bank branch in the town.
Merbein District Inc treasurer Janeen Norris said although the closure was a blow — particularly to older residents who preferred to bank in person — she was hopeful they would move their accounts across.
“We hope this will encourage customers to think with their feet and walk across the road to our community bank, which does such a good job,” she said.
“A lot of the bank’s profits go into grant money and each year they give out thousands of dollars to local sporting groups and not-for-profits.
“I just think we’re really going to have to speak out now against these big bossy banks and put our money where our mouth is.”
Commonwealth Bank said it had made the “difficult decision” to close the branch following a recent review, which found transactions at the branch had dropped by 48 per cent over the past five years.
It also said there was a shift to online banking, which had increased throughout the COVID-19 pandemic, with calls to its hardship line increasing by 800 per cent.
But Mrs Norris said those figures did not necessarily reflect the banking behaviour of Merbein residents.
“I know a heck of a lot of elderly people who do not do internet banking,” she said.
“The big banks and organisations are trying to tell us this isn’t the case because yes, in the cities, that’s the case.
“But in the country, our elderly are still going to the bank, taking out their pension and dividing it up for the week and they want the cash in their hand.”
Regional general manager Sally Gubbin said Commonwealth Bank acknowledged older customers preferred face-to-face banking and invited them to visit the Mildura branch.
But Mrs Norris said visiting Mildura was not always an easy option for elderly residents and online banking often resulted in a loss of independence.
“In the city, you can step out your front door and get on a bus every 10 minutes, but here you can’t,” she said.
“And in the summer heat and, not to mention, the threat of COVID-19, they’re just not going to take that risk.
“It just limits their banking opportunities and often results in them having to hand their banking over to their kids, which can be fraught with difficulty.
“I do feel for the staff who have lost their jobs or had to be moved, because it is a frightening trend to see branches closing.
“But I do think there is a flip side to this and that will be people finding ways to bank locally, which will mean our community bank is supported more.”
