VIEW ORIGINAL TEXT BY GEORGIA ROSSITER, THE DAILY ADVERTISER
In light of the ongoing closures of regional bank branches, I have put forward a motion for Wagga City Council to support the establishment of a public bank managed by the federal government. This proposal will be discussed at our upcoming council meeting on Monday, October 17.
The recent closure of the Commonwealth Bank branch in Junee highlighted the pressing need for a solution to ensure continued banking services in regional and rural Australia. To address this issue, I have suggested that the council support the creation of a ‘post office people’s bank,’ which would operate through Australia Post outlets across the country.
This proposed public bank would function like any other bank but leverage the extensive network of Australia Post locations to provide essential banking services in areas that are increasingly underserved. The goal is to offer face-to-face banking options for those who need them and to foster greater competition among banks, potentially leading to improved services for customers.
I firmly believe that access to banking services is critical, especially for those who cannot rely solely on online banking. Deputy Mayor Jenny McKinnon has echoed this sentiment, noting the importance of physical banking services for many residents. She has expressed support for exploring this plan further and finding effective ways to address the banking needs of our community.
The situation in Junee, where the community is set to lose its only bank branch, underscores the urgency of this issue. Customers will need to rely on the Junee Post Office for banking transactions, but this Bank@Post service has faced criticism for its limited capacity to support local businesses.
By advocating for a public bank, I hope to bring attention to the challenges faced by regional communities and work towards a viable solution that ensures all residents have access to the banking services they need. I encourage everyone to participate in the upcoming council meeting and share their views on this important matter.
Thank you for your continued support as we seek solutions to enhance our community’s access to essential services.
Cr Richard Foley
