The CBA closure (Creswick 16 Oct 2019) highlights the reality of "Big Four" banks prioritising profits over communities.
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To John who said "it was a "disgusting" move from the bank which holds his savings." The alternative is the Creswick Community Bank. Community Banks offer the full range of banking services provided by its franchise partner and Australia's 5th largest bank - Bendigo Bank.
I am the chair of the company operating the Daylesford District Community Bank, and we faced a similar closure when the ANZ left Daylesford in 2018. I am confident the dedicated team at Creswick will assist new customers to transition at least some of their banking.
The Bendigo Bank's successful "community bank model" was spawned from the "Big 4" branch closures in regional towns over the last 25-30 years. Subsequently over 300 Community Banks have opened. The model succeeds through the efforts of their community shareholders, passionate customers, the efforts of their volunteer boards and the comprehensive Bendigo Bank network.
If residents and businesses want the convenience of local banking please at least consider your local Community Bank. Your support will help maintain local services, employment and economic stability.
All Community banks strive to invest profits in their communities. Hepburn Shire has Community Banks in Creswick, Daylesford and Trentham which provided grants, foundation contributions and sponsorships of over $400,000 to our communities in 2019. Of this Creswick provided in excess of $195,000 to over 30 community group - a tremendous achievement.
Mark Rak, Chair Daylesford District Community Bank