Darren Chester MP – CHESTER CALLS FOR LONG-TERM CERTAINTY ON REGIONAL BANKING

Federal Member for Gippsland Darren Chester has welcomed Commonwealth Bank’s
decision to keep all 281 of its regional branches open until at least December 2030, while
calling for stronger, long-term safeguards for face-to-face banking services in regional
Australia.
Mr Chester said the commitment would provide welcome certainty for regional customers,
businesses and communities, but warned access to banking services remained an ongoing
concern across regional Australia, including Gippsland.
“After years of closures, this is a welcome announcement from Commonwealth Bank, but
Gippslanders shouldn’t have to rely solely on voluntary promises from individual banks to
know they will continue to have access to essential banking services,” Mr Chester said.
“Regional communities need certainty that they will still be able to access cash, speak to
someone face-to-face and undertake the banking services that families, farmers and small
businesses rely on.
“Hopefully Commonwealth Bank’s commitment puts pressure on other financial institutions
to recognise the importance of maintaining a genuine presence in regional Australia.”
Mr Chester said Gippsland had already experienced the impact of too many branch
closures, pointing to Bendigo Bank’s decision last year to close 10 branches nationally,
including its Yarram branch.
“Yarram lost its last Bendigo Bank branch despite strong community concerns, and we
have seen banking services progressively disappear from other regional towns,” Mr
Chester said.
“Every closure makes it harder for older residents, people who aren’t comfortable banking
online, community organisations and local businesses that still need access to cash and
face-to-face services.”
A Senate inquiry into regional bank closures made eight recommendations, including that
access to financial services be recognised as an essential service and that the Federal
Government guarantee reasonable access to cash and financial services. It also
recommended establishing a Regional Community Banking Branch Program to help
communities restore in-person banking services in towns that have lost branches.