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Morwell NAB Bank branch closure causes disappointment and concern from Latrobe City Council

Latrobe City Council expresses concern over Morwell NAB Bank branch closure, impacting businesses and accessibility to banking services in the CBD. Council advocates for solutions and encourages community support.

By news@gippsland - 3rd August 2023 - Back to News

Latrobe City Council is disappointed and concerned to hear of the pending closure of the Morwell NAB Bank branch, leaving the Morwell Central Business District (CBD) without any accessible banking facilities. This comes despite council's advocacy of the importance of accessible banking services in our City and input into the Committee Inquiry into Bank Closures in Regional Australia. NAB, the last bank remaining in the Morwell CBD has announced that it will close its doors on 26 October 2023.

Morwell CBD's last bank, NAB, will close on 26 October 2023. Concerns arise for community members and businesses needing banking services

Regional bank closures impact

Council has seen first-hand the impact of regional bank closures following closures across Morwell over several years along with Westpac and ANZ branches in Moe. Concerns have been raised for community members that may face certain barriers and small businesses that require cash float and deposit facilities.

Mayor of Latrobe City, Councillor Kellie O'Callaghan noted the importance of sharing the local experience when banks close. "The closure of the Morwell NAB Bank branch creates a challenging situation for local businesses, making it more difficult for them to conduct daily transactions, manage finances and access essential banking services."

"While we acknowledge decisions are not made lightly by corporate banks and there is a drive towards online banking for many customers - access remains paramount. Banking facilities have been available across Latrobe City for our community to access for many years, recent service changes have seen our community impacted with Morwell residents and business to now face further inconvenience and limited options when it comes to their banking needs," said the Mayor.

Community empowerment initiative

Cr O'Callaghan added, "Council is committed to engaging with government and banks to ensure that our communities remain empowered as we navigate this change and look for solutions. In the meantime, we encourage our community members to consider banking with existing local branches, utilising online services if possible and Australia Post's Bank@Post services where available."

In March, council participated in the Senate Rural and Regional Affairs and Transport References Committee Inquiry into Bank Closures in Regional Australia as part of council's advocacy efforts.

Pictures from Google Maps.

Source: www.gippsland.com

Published by: news@gippsland.com