It appears profits are winning out over people as another big bank closes more branches in smaller rural towns across NSW.
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Despite recording half year 2023 cash earnings of $4.07 billion, National Australia Bank (NAB) are closing its branches in Warren, Gilgandra and Wellington, much to the disappointment of local residents.
The branches are being shut on the back of significantly declining foot traffic and an uplift in digital banking usage, according to the NAB, who said in 2022 the average number of daily cash withdrawals was just six in Warren, seven in Gilgandra and 15 in Wellington.
Residents in Warren believe the branch closure will have a negative impact on the town's future.
"To survive, we need to be able to entice professionals to move here," Warren Health Action Committee member, Rod Sandell said.
"To do that we need to have services available here which are attractive to these people.
"Losing the NAB branch is a step in the wrong direction."
Prominent producer in the Warren area and Egelabra Merinos stud principal, Malcolm Kater, is a long-time NAB customer and said that would change if the bank closes the branch.
"It is a very short-sighted decision made by men in suits sitting behind desks in Melbourne," he said.
"The NAB merged with the Commercial Banking Company to have a regional presence and now they are abandoning the bush.
"I have been an NAB customer for over 30 years but I will change if they close the branch here."
In a letter to the bank, Warren Shire Council mayor, Milton Quigley said it was "making a mistake".
"Our agriculturally based economy is and remains exceptionally strong and will look forward with confidence to the next couple of years particularly given the availability of water for irrigation over that time frame," Mr Quigley said.
"Many in our community have expressed their disillusionment with your decision.
"The NAB has been an essential part of our community for many years providing financial services and advice to our farmers, businesses and residents."
NAB said the decision to close the branches was not made lightly.
"We've made the difficult decision to close our branches in Gilgandra, Warren and Wellington where we've seen a steady decline in over the counter transactions and an increase in the usage of digital banking options," NAB retail customer executive, greater regional NSW, Allison Baker said.
"We're a proud agribusiness bank, and for our agri customers across Central West NSW, they'll continue to be supported as they are today."
