Bingara’s vibrant community are today shocked over National Australia Bank’s (NAB) announcement to close the local branch on May 31.
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Gwydir Shire Council mayor John Coulton was worried the closure may have a domino-like effect on the small community.
He encouraged Bingara residents to meet in front of the bank this morning (March 9) to showcase their unified disappointment.
“The bank manager declined to make a formal statement but confirmed the Bingara branch would close on May 31,” he said.
Mr Coulton highlighted Bingara’s ageing population, majority of whom rely on NAB to collect their pension each week.
“They don’t use online banking and are at a stage in their life where they’re not going to start. Also businesses have to bank their tills every day and you can’t do that online,” he said.
Residents who have business and farm loans through NAB are now left wondering what to do, including councillor Tiffany Galvin.
“We own the local butcher shop and have two loans through NAB. We also do banking and wages every Friday.
“We don't know whether to change banks or not, they just told us to use the post office but that’s not an option with us,” she said.
Mrs Galvin said the usually vibrant community were “shocked and terribly worried” about the effect it will have on Bingara.
Losing the major bank, the town will rely on a credit union which currently runs at reduced hours- two days a week.
“Who is going to want to buy or invest here in Bingara without a major bank? And if people start doing their banking out of town, they’ll start shopping out of town as well so it effects all businesses here.”
Mr Coulton added the closure would leave another empty shop face in the main street.
“The bank was operating five days a week with two staff. The profit from the NAB is in the vicinity of $9 billion, what sort of percentage will they save by closing the Bingara branch? That’s my question.”
