Reading the March edition of the Regional Development Australia Central West News, I came across an article that is a win for the regions.
The Australian Government has successfully secured commitments from major banks to ensure that banking services remain available in regional areas. This initiative aims to address the decline in regional banking services, with 36% of bank branches in regional Australia having closed since 2017.
It is recognised that the regions should have the secure banking services we need and deserve. More than banking, this is about keeping regional communities that contribute so much to our national economy connected and thriving.
People are increasingly using digital banking and payment methods, but face-to-face services remain essential, particularly for people and small businesses in regional areas, where digital alternatives may not always be accessible or meet their needs.
These commitments include:
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• A moratorium on branch closures for 2.5 years: NAB has committed to a new moratorium on regional branch closures, with CBA and Westpac extending their existing moratoriums. These commitments build on conditions imposed by Government on ANZ and Suncorp and ensure no regional branch closures by these
banks before 31 July 2027.
• New Bank@Post agreements: Government has asked the banking sector to increase its commitment to and invest in regional banking.
Australia Post, CBA, NAB and Westpac have all reached new in-principal Bank@Post agreements, and ANZ has also agreed to terms.
The Government will continue to work on longer-term options, but in the meantime, we will have fit-for-purpose banking, secure local jobs and we retain our face-to-face banking services.
Just as important, a focus on sustainable cash distribution, ensuring Australians can use cash to pay for essentials if they want to or need to.
Lastly, head to the Hilltops Council Website - Have Your Say page where there is a suite of draft policies on public exhibition until midnight Sunday 30 March 2025.
I encourage you all to have ‘Have Your Say’.
Councillor Alison Foreman
