Senator Matthew Canavan and Member for Flynn Colin Boyce MP, have expressed their disappointment in NAB’s decisions to close the Biggenden branch. Biggenden is a rural town and locality in the North Burnett Region, Queensland. Source: Timberbiz
NAB has indicated that it will be closing its Biggenden branch on 27 July this year, leaving the town without a bank.
Federal Member for Flynn, Colin Boyce said it’s time for the big banks to put their money where their mouth is and stop treating our regional communities like second class citizens.
“Bank branch closures have occurred all over the Flynn electorate in communities such as Gladstone, Tannum Sands, Moura, Biloela, Theodore, Emerald, Springsure, Capella, Mundubbera, Gin Gin, Gayndah, Gracemere, Taroom, Wondai, Monto and Mount Morgan,” Mr Boyce said.
“On many occasions, the big banks have advised customers to use online services or Australia Post. While this may be viable for some people, I have serious concerns for our elderly that rely on these bank branches.
“Constituents in some communities have to drive hours to visit their nearest branch because of bank branch closures. It is simply not good enough.
“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.” In February this year, the Australian Senate established an inquiry into regional bank branch closures, chaired by Senator Canavan, after unprecedented numbers of branches were being shut down around the country.
“This announcement from NAB comes on the same day that they recorded record interim profits,” Senator Canavan said.
“While NAB is able to make over $4 billion in profit, they can’t find a place to provide an essential service to people in regional areas.
“It’s incredibly disappointing that NAB didn’t follow the lead of other banks and commit to not shutting down any more branches while the Senate Inquiry is ongoing, and just shows its clear disregard for our regional communities.
“These banks need to be looking at the bigger impacts of their closures, and trying to find solutions to ensure that people still have the ability to not only transact, but open and close accounts, and obtain finance.
“While the Bank@Post might be a solution for a lot of problems, it’s not a cure-all, and the banks need to stop just leaving these communities in the lurch and expecting them to continue to support them.”
The Senate Inquiry into regional banking closures is due to report to the Senate in December and its next hearings are on 17 and 18 May in Cloncurry and Ingham.
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