Outrage as bank reveals plan to close Bannockburn branch

THE Bendigo Bank will close its Bannockburn branch on 25 September.

Customers received news of the closure via an email, which has been seen by the Golden Plains Times, on Monday this week.

The news has prompted local outrage because the closure will effectively leave the township without a formal branch of any bank.

Both Golden Plains Shire mayor Cr Owen Sharkey and Golden Plains Chamber of Commerce president Peter Nunn expressed extreme disappointment at the news, which spread rapidly once the emails landed.

And one long-time private customer, Bannockburn resident Ros Bosnar, said the closure was devastating because the bank had become “like a family.”

Cr Sharkey said the bank’s community consultation had been “appalling,” while Mr Nunn described the closure as “an extremely backwards step.”

Westpac closed its Bannockburn branch in 1997 after about 25 years, leaving the town without a bank until Bendigo Bank set up there several years later.

The email said: “Due to changing customer banking habits and the need to invest in our broader services, we’ve made the difficult decision to close this branch on Thursday 25 September 2025.

“We understand this news may be disappointing, and we want to assure you that we’re committed to supporting you through this transition.”

The email said customers will be able to do their banking online, via the app or by phone, and the Geelong West and Corio Village branches remain as options for in-person transactions.

It said customers could also use the Australia Post banking service in Bannockburn.

“Bendigo Bank is committed to its branch network and the personal service provided within them,” the email continued.

“Closing a branch is only ever a last resort. However, as more and more customers choose to do their banking online or over the phone, we must continue investing in products and services that meet the expectations of our customers now and into the future.”

A document on the bank’s website said that fewer people are doing their banking at physical branches.

“When customers do visit a branch, it is much less often. Customers in Bannockburn only visited this branch once in the last year,” it said.

“More than 17 per cent of these customers have chosen other locations to conduct their banking.”

The document included statistics showing that cash withdrawals, cash deposits and cheque deposits had all dropped significantly between 2021 and this year, with business banking cash and cheque deposits showing similar downturns over the same four-year period.

As for in-person visits between May 2024 and April this year, regular customers (three-plus visits) went into the branch 1357 times and heavy users (12-plus visits) just 605 times.

Business banking customers went into the branch on 397 (regular) and 444 (heavy) occasions.

Cr Sharkey said he received official notification in his municipal role on Tuesday, which included advice that the ATM would also be removed, but had learnt of the decision in an earlier text message.

He said he had moved all his banking business to the Bendigo Bank.

“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,” he said.

Cr Sharkey said he was confident the council would discuss the issue but stressed the municipality could not dictate how a business conducted its activities.

“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 that they do,” Cr Sharkey said.

He said the shire’s economic development team was trying to contact the bank.

“[To discuss] whether there’s any possibility of a community bank model replacing the current branch, things like that,” Cr Sharkey said.

Cr Sharkey said the bank should at least have given warning that it was considering the closure.

“I’d understand if we were in a town that wasn’t growing or the numbers were declining, but we are one of Victoria’s fastest growing townships; we are at significant growth…the numbers are coming,” he said.

Mr Nunn said he and other chamber member businesses learnt of the decision like everyone else – as customers.

“It’s an extremely backwards step. We’re [here] only to support local businesses, and this would seem to be completely contrary to that,” he said.

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

Mr Nunn said delays in completion of the refurbishment of the older plaza and its linkage to the newer development behind it might have contributed to the move (the branch is part of the older Bannockburn Plaza complex and fronts High Street).

He said the chamber would make a formal representation to the bank in an attempt to reverse the decision, and would also canvass the council for its position.

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

“[But] I think the chances are extremely unlikely.”

Ms Bosnar, who has been a customer for more than 20 years, said “there’s a lot of very angry people.”

Having to travel to Geelong for face-to-face service would be inconvenient for many older customers, she said, adding that there is no public transport in Bannockburn.

“When Bendigo Bank came here, they were going to be our bank, our community bank for the people, so everybody signed up.

“They’ve supported lots and lots of community groups, and over the years it becomes like a family – we’ve had people working in the bank for years and everybody knows them.”

Ms Bosnar said the decision was particularly bewildering because of the mooted Bannockburn South East development, which will see thousands of new houses built, and the fact that the Golden Plains Shire is among Victoria’s fastest growing municipalities.

And more businesses would come to the town when the second stage of the plaza development was eventually completed.

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

“People are upset and angry, and a lot of them are talking about pulling their money out and going to another bank.”

Asked a series of questions, a bank spokesperson said the decision to close the branch was a difficult one and followed a review of evolving customer preferences, a reduction in business activity and increased costs.

“Bendigo Bank is proud of its regional heritage and operates Australia’s second largest regional branch network,” the spokesperson said.

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

“This decision takes into consideration the proximity of other branches in the surrounding area.”

The spokesperson did not specifically address a question about what would happen to branch staff, but it is understood the bank tries to redeploy employees wherever possible.