Gilgandra will soon be a "one bank town" with the imminent closure of a local branch.
Subscribe now for unlimited access.
or signup to continue reading
The town is one of three in the region which will lose their National Australia Bank (NAB) branches in August, in the latest round of controversial regional closures.
Gilgandra Shire Council general manager David Neeves called the decision to close - made without community consultation - a "slap in the face" for the community.
"It's disappointing. The lack of consultation is quite ignorant and arrogant to their customer base," said Mr Neeves.
A letter sent to NAB customers in Gilgandra suggested those in need of in-person services after the closure on August, 24 visit the new $2.5 million banking hub in Dubbo, expected to open in mid July.
But Mr Neeves said the 45-minute drive to Dubbo will make it impossible for some Gilgandra residents to access the service.
"For the people who don't have licences and who can't drive - it'll be very difficult for them to get to a bank," he said.
READ ALSO
"Gilgandra is not much different to any rural community, we've got an ageing population and this is very disruptive for their lifestyle which is disappointing."
He also worried about the impact people leaving town for banking services would have on other local businesses.
"It is concerning ... Obviously we don't want people leaving the community unnecessarily because when they have to travel to Dubbo they often do other business while they're there which could be done locally," he said.
Changing customer habits driving closures
NAB says the decision to close the Gilgandra, Wellington and Warren branches was driven by a decline in foot traffic over the past few years.
Forty seven per cent of Gilgandra customers, 48 per cent of Wellington customers and 50 percent of Warren customers have only visited their local branch once in the last 12 months.
However, these figures only account for over-the-counter deposits and withdrawals. Meaning, customers who visit the branch to sort out IT issues, provide documents, remove or add names to accounts or to speak to staff about loans are not counted.
"While a lot of people do their banking online it doesn't take away from the fact that you still need a bank to make loan applications, to bank cheques, to bank cash if you're a business that deals with cash."
READ ALSO
Since the closures were announced, the Gilgandra Shire Council has been in talks with the Warren Shire Council and Dubbo Regional council - as well as local MPs and other affected stakeholders - about the issue.
However, Mr Neeves concedes there's not much the council can do.
"It's a big corporate decision and it's disrespectful to our communities but at the end of the day this is their decision and our ability to influence that decision is sadly minimal," said Mr Neeves.
"We would like to have been consulted and be given an opportunity to raise any issues with the banks before they make a definite decision - if there was a consultation process and consideration given to the concerns of the community, that would be a good outcome.
"But by just closing the doors and saying 'too bad so sad', it's disrespectful."
The death of the country bank
Gilgandra is one of many towns across Australia which have been impacted by branch closures, a matter which is currently under inquiry by the federal senate's Rural and Regional Affairs Committee.
It's estimated that more than 650 bank branches have been closed in rural and regional Australia since 2020.
Nationals' member for Cootamundra Steph Cooke recently wrote to NAB expressing her opposition about two planned branch closures in her electorate.
"When we talk about wiping out face-to-face banking services in country NSW, we know such actions tear big holes in the fabric of small regional communities," Ms Cooke said.
READ ALSO:
"Unfortunately, I have been on the public record far too many times in recent years on the issue of bank closures and my view hasn't changed. There is simply no justification for the decision to shut down face-to-face banking services.
"Year after year NAB, and the other big banks, post billions of dollars of profit, yet the impact of these closures on our local branch employees, their families and our small communities is immense."
Mr Neeves said in the wake of the closures, people in rural communities should "choose wisely" when selecting a bank.
"In Gilgandra we're fortunate in one way that whilst the NAB might be closing, we still have a bank, which is the Bendigo Bank," said Mr Neeves.
"We have a nice community bank which isn't going anywhere - so from our point of view, we'd be saying support locally."
Reading this on mobile web? Download our news app here. It's faster, easier to read and we'll send you alerts for breaking news as it happens.
