Outrage as bank reveals plan to close local branch

THE Bendigo Bank has announced it will close one of its regional branches on 25 September, sparking anger and disappointment among residents and local leaders.

The closure of the Bannockburn branch will leave the town without a dedicated banking presence, after customers were notified by email earlier this week.

Golden Plains Shire mayor Owen Sharkey said the bank’s approach to community consultation was “appalling”.

“They should have got in touch with council to see how to conduct community consultation and good public relations; I think they’ve done a very poor job,” Cr Sharkey said.

He said he was confident the council would discuss the matter but stressed the municipality could not dictate how a private business operated.

“A lot of people look at Bendigo Bank as being an integral part of the community. The bank does some fantastic work with its community grants program.”

Chamber of Commerce president Peter Nunn also criticised the decision, calling it “an extremely backwards step”.

“It’s completely contrary to supporting local businesses,” Mr Nunn said.

“We’ve got members who’ve only just recently moved to the Bendigo Bank who are particularly annoyed.”

Mr Nunn said delays in completing nearby shopping centre developments might have contributed to the move. The chamber plans to make a formal representation to the bank and will also seek the council’s position.

“If we don’t at least make an attempt, if everyone just sits back and goes ‘nothing can happen’, then nothing will happen,” he said.

Local resident Ros Bosnar, who has banked there for more than 20 years, said the decision was devastating.

“There’s a lot of very angry people,” Ms Bosnar said.

She said many older customers would find it hard to travel to Geelong for in-person service, especially with no public transport available.

“When Bendigo Bank came here, they were going to be our community bank, so everybody signed up. They’ve supported lots of community groups, and over the years it becomes like a family.”

Ms Bosnar said the move made little sense given the rapid growth of Bannockburn and plans for thousands of new homes.

“Why are they pulling the plug now, when the town is starting to become a city?” she said.

A Bendigo Bank spokesperson said the decision was made after a review of changing customer habits, reduced business activity and increased costs.

“To preserve our ability to continue delivering for customers and communities, we must ensure our branches are adequately supported and resourced,” the spokesperson said.

The bank noted that fewer people are using physical branches, with many preferring online and phone banking.

It’s understood Bendigo Bank tries to redeploy staff wherever possible when branches close.