US Edition‘Not Feasible’: Bank Axes More Branches
REGIONAL VICTORIA, QUEENSLAND, AND TASMANIA, JUL 7 – Bendigo Bank cites fewer customers and higher costs for closing 10 branches, affecting regional communities that must now rely on Australia Post or travel up to 20 km for banking services.
- Bendigo Bank announced it will close 10 branches across Victoria, Queensland and Tasmania between early August and late October.
- Bendigo Bank cites changing customer preferences, higher costs, and reduced activity as reasons for its regional branch closures, with a federal deal preventing closures until mid-2027.
- Bendigo Bank will close 10 branches across Victoria, Queensland, and Tasmania between August and October, affecting towns like Korumburra and Queenstown with long travel distances.
- Following the announcement, five regional communities will lose local banking, with vulnerable groups citing travel barriers; the FSU calls the closures a 'slap in the face' for affected residents.
- Bendigo Bank plans to redeploy about 30 staff affected by branch closures, while the union urges regulatory changes and has lobbied the federal government’s Assistant Treasurer, Daniel Mullino.
11 Articles
11 Articles
Bendigo Bank to Close 10 Branches Across 3 States
Bendigo Bank has announced it will shut down ten of its branches next month, including six in Victoria, two in Queensland, and two in Tasmania. The Victorian closures will affect South Melbourne, Malop Street Geelong, Bannockburn, Yarram, Korumburra, and Ballarat Central. In Queensland, Malanda and Tully North are slated to close, while Tasmania will lose branches in Kings Meadows and Queenstown. Chief Executive Officer Richard Fennell said the …
The Impact of Recent Bendigo Bank Closures on Local Communities
Introduction The recent decision by Bendigo Bank to close several branches across Australia has raised significant concerns among local communities. As a prominent banking institution, Bendigo Bank has played a crucial role in providing financial services, supporting local businesses, and fostering community engagement. The closures not only affect customer access to banking services but also raise questions about the sustainability of financial…
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