Drysdale to lose bank branch

DRYSDALE residents have been left frustrated by a National Australia Bank (NAB) decision to close its local branch next month.

NAB has confirmed its Drysdale branch will shut from March 17, but insisted there would be no job losses resulting from the decision and said it would invest in other resources to maintain its services.

Corangamite MP Libby Coker said she was disappointed with the bank’s announcement and urged a reversal.

“It’s a very busy branch and the closure will affect many people, particularly the elderly who still like to go into the bank to do their banking, and there’ll be many local businesses who want to continue doing their weekly or daily banking in Drysdale,” Ms Coker said.

The nearest NAB branches to Drysdale will be at Ocean Grove and Geelong from the closure date, but the bank said it would work with customers to provide information on alternative services, such as its Bank@post service with Australia Post that it offers in Drysdale.

NAB said an increase in digital banking, which now accounts for 93 per cent of customer interactions, was behind its decision.

“Over the past few years, fewer customers are coming into branches to do their banking and foot traffic has lessened, which has been accelerated by COVID,” the bank’s Mil Kairouz said.

“Approximately 65 per cent of our customers in Drysdale have only visited the branch once in the last year and more than 50 per cent of customers are also using other branches in the area such as Ocean Grove or several of our Geelong branches.”