Plans to close Cobram ANZ will go ahead despite attempts by Moira Shire Council to get a reprieve and a commitment by the bank to pause regional branch closures.
That commitment is due to a Senate Inquiry which is currently under way into branch closures.
However, it has come too late to save Cobram’s branch.
Cobram ANZ will close permanently on Wednesday, May 17 leaving local customers to either do their banking online or change banks.
ANZ District Manager Gurjot Thandi said the closure was in response to customer habits.
“Customers are changing the way they choose to bank, with 91 per cent of Cobram customers preferring online and mobile banking methods,” Mr Thandi said.
However, whilst branch closures are becoming more frequent both ANZ and the Commonwealth Bank of Australia have committed to pausing regional closures while the Senate Inquiry is ongoing.
Moira Shire Council, at its meeting on Wednesday, April 26, confirmed that acting Chief Executive Officer Joshua Lewis contacted ANZ to ask for a three year reprieve for the Cobram branch citing concerns around digital infrastructure in the region.
Despite his request ANZ remained steadfast in their plans to close the branch.
The Senate Inquiry was driven by the Financial Sector Union whose secretary, Julia Angrisano, has called the closure of bank branches incredibly frustrating.
“The major banks are making massive profits and yet they continue to shut down branches... they don’t care about customers and businesses who are impacted by these closures,” Ms Angrisano said.
“All Australians deserve to have access to the full range of financial services no matter where they live.”
Once closed, the nearest ANZ branch for Cobram residents will be in Yarrawonga.