GOONDIWINDI Regional Council mayor Lawrence Springborg is gravely disappointed the Heritage Bank will close its Goondiwindi branch in March.
“Residents will share my disappointment at the news that the Heritage Bank will close,” Cr Springborg said.
“This closure is particularly concerning given the commitment made at the time of the merger between Heritage Bank and People First that there would be no branch closures.”
Residents of Millmerran Oakey, Pittsworth and Toowoomba Range also affected, with the closure of People First branches in those areas.
“While I acknowledge that this is a commercial decision for the bank, the loss of face-to-face banking services in a regional community like ours is far more than an inconvenience,” Cr Springborg said.
Heritage Bank will close its Goondiwindi branch in March.
“It represents a significant setback for many locals who rely on personal, accessible support.
“I have penned a letter to the CEO requesting that, based on our lived experience of the negative impact of these closures to regional communities, they reconsider their decision to close this outlet.
“Experience has shown the actual impact of bank closures is often greater than initially suggested. It is our most vulnerable residents – including older people, those without reliable access to digital services, and small businesses – who are most affected by the withdrawal of in-person banking,” he said.
“Elderly members of our community are fearful of scammers and fraudulent activity over the phone or online for banking purposes. It’s therefore no surprise that this decision has sparked concern within the community.
“But they aren’t the only ones impacted, whether it be accessing cash floats, end-of-day business banking, the regular changeover of signatories for community group committee members or opening the first bank account for a young person, a physical bank still has a vital role in the community,” he said.
“Unlike some of our smaller towns, the Goondiwindi township fortunately has other physical banks to support residents and businesses, but this trend of removing in-person services is worrying to all regional communities,” Cr Springborg said.
If Banks are supporting this ‘cashless society’ push (and they are by closing their face to face banks), how can the government allow these institutions to hold a banking licence when they no longer will be handling legal tender? Banking licences are issued to allow these institutions to hold and trade cash for Australians. CASH is king and it always should be available no matter how often the consumer uses it. Those pushing for a cashless society are the institutions that will benefit from you it. And that is not you or I.