Regional Banks Report Due Tomorrow

May 23, 2024 9:56 am in by

The rural bank closures report is due to be handed down tomorrow…

The findings of 13 public hearings across the country set to be presented with a focus on one question: “do banks have a social responsibility to serve our country communities?”

Over the last 7, around 50 regional bank branches have closed in SA – leaving at least 22 towns without branch at all, including the remote opal-mining town of COOBER PEDY.

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The banks crediting this to a rapid uptake of digital banking.

Finance Sector Union boss, Wendt Streets says the loss of local branches forces customers to travel to larger nearby towns, with often disastrous consequences, including them visiting the hairdresser or supermarket in these other towns and not their own smaller towns.