D-Day finally arrived yesterday (Tuesday 22 August 2023) for National Australia Bank (NAB) customers in Warren and Wellington, as the doors to the local branch closed forever, with Gilgandra set to follow suit on Thursday.

Despite the ‘rubbery’ statistics used by the Bank to justify the closures and strong lobbying from local government and community groups, it seems ‘progress’ can’t be stopped and two more small towns will now be without a local NAB branch. 

Customers in Wellington and Gilgandra will be forced to travel to Dubbo to access in-person banking services, and for those clients in Warren, it means a two-hour, or 240-kilometre round trip.

In the lead up to the closures, front line staff are the ones who have found themselves in the firing line, having to deal frustrated customers. These same staff will also have to travel long distances if they wish to retain their employment.   

When the App visited the Warren branch on Tuesday, bank staff were enjoying cake and coffee with the customers who had come to wish them well.  “The staff here at our local NAB are wonderful,” said customer Annette Irving. “They are so professional, and they provide wonderful service. It’s very sad that they have lost their local employment, it’s sad for our town as well. We will miss them.” 

Likewise local agribusiness managers have been forced to peddle hard to retain customers because as with most ‘head office’ decisions, it is the local employees who are left to deal with the aftermath.

Although most customers can transact in person at the local post office, the LPOs will be unable to deal with general banking enquiries, forcing NAB clients to wait on long phone queues or ‘talk’ to website chatbots. Warren Chamber of Commerce President Ros Jackson said that the closures are disheartening. “In a community such as ours, there are many small businesses who are still reliant upon being able to do business face to face with staff at a local branch," she said. 

"This is in part because of the difficulties some regional areas experience with poor phone reception and unreliable internet access, as well as the Bank’s apparent inability to perform certain business transactions remotely. 

“We have a vulnerable and aging population who depend on visiting a branch to make enquiries or to get assistance. Those kinds of walk-ins were evidently not included in the data that the Bank used to justify closing the branch. It’s a shame that the NAB has blamed its customer base for their decision (to close). I am sure that they could have retained a presence of some kind locally, however they have chosen not to.”

The Business Chamber also says that there will be real consequences for local retailers because of the closures, with operators including supermarkets, cafes, and boutiques, concerned that they will feel the pinch now, more than ever. “Larger regional centres are already a drain on the small-town economy because sadly, they do draw shoppers away. If I must go elsewhere else to do my banking then I’m going to get my groceries, have a coffee, etcetera, when I’m doing that. The NAB’s claim that these branch closures are in the best interests of customers is frankly, a bit insulting. I wish they would just be honest, it’s about profitability for the Bank.”

Rod Sandell, one of the driving forces behind Warren’s Health Action Group has said, “for the town to survive, we need to be able to entice professionals to move here. To do that, we need to have services available which are attractive to these people. This closure is a step in the wrong direction.”

Local businesses have had to obtain QR codes to enable employees to deposit to their bank account via the LPO. “It’s annoying, it’s frustrating and quite frankly, it’s a slap in the face,” says one business owner, who wanted to remain anonymous for fear of retribution.   He, like many NAB clients, had considered taking his business elsewhere until he realised the logistics of doing so would far outweigh the benefits. “The NAB has me by the you know whats,” he said. “I really don’t have the time and energy to renegotiate my finances with another bank. It’s hard enough running my business as it is, this is just another headache I don’t need.” 

The NAB will be shutting down their branch in a prominent building in Gilgandra's mainstreet.

Likewise, a Gilgandra based not-for-profit that we spoke to says that it is all too hard to make the switch. “We have board members spread across different towns and it would be difficult for us to change our banking,” the spokesperson said. “We moved from ANZ, then to Westpac and finally to the NAB when Westpac closed and to be honest, it was an absolute nightmare that we don’t want to go through again.”

A number of prominent agri-businesses in the district have however decided to put their money where their mouths are, and plan on moving their banking away from the NAB. Warren based producer, Malcolm Kater, is one long-time NAB customer who has publicly stated that he will switch banks. “It’s a matter of principle to us,” says Mr Kater. "They are abandoning the bush."

Likewise, Warren Shire Council have announced that they are moving their business across to the CBA, in part because the NAB has been being unwilling to retain a local presence, despite strong lobbying by Council. Warren Shire Council Mayor, Milton Quigley, says the closure is short-sighted so therefore Council is moving to support a bank that supports its community. 

“In light of NAB’s closure announcement, we lobbied extensively for the bank to retain its local presence, including writing to their CEO stating this decision was short-sighted, given our vibrant agriculturally based community,” says Mayor Quigley.

“The reply I received was not encouraging, prompting us to consider the transfer of Council’s banking facilities to another bank that continues to support our residents by having a branch presence in Warren.”

Mayor Quigley also said that local banking is a way of life for many of Warren Shire’s residents. “Onsite banking and face-to-face banking services are required to meet the needs of our demographic and offer an economic and social benefit to our entire community. The closure of these branches means all NAB customers living and working in Warren Shire will now need to travel to Dubbo for in-person banking services, a fact which shows no understanding from the bank about the community in which it is serving.

“CBA’s commitment to retain its local branch for at least another three years in Warren Shire, has encouraged Council to support a financial institution that is maintaining its presence and commitment to our community,” he finished.

Warren Shire Council General Manager, Gary Woodman, says moving Council’s finances to CBA also makes good business sense and increases Council’s investment options. 

“From an operational perspective, moving Council’s banking facility to CBA makes good financial sense due to its competitive pricing model, the large fee waiver incentives and in consideration of the ongoing costs of service delivery,” says Mr Woodman. “On occasion, Council has a need for cash-based transactions and a bank with a local presence can support our ongoing requirements, to ensure we maintain efficient and effective service delivery for the people of our shire.”

Customers who don't switch to another local bank will be left with online-only banking - or long trips to other towns.

Gilgandra Shire Council general manager David Neeves has also called the NAB's decision a 'slap in the face' for the community. "It's disappointing," said Mr Neeves. "The lack of community consultation shows an arrogant disregard for their customer base." 

Mr Neeves says that the 45-minute drive to Dubbo will make it impossible for some Gilgandra residents to access face to face services. "For the people who don't have licences and who can't drive, it'll be very difficult for them to get to a bank," he said.

"Any NAB businesses who deal with cash, either depositing or withdrawing, are also being disadvantaged. 

"On the positive side," he added, "we're fortunate that we still have the community backed Bendigo Bank who are continuing to do good things in our community."

Mr Reeves also believes that the soon to be empty historic bank building presents a great opportunity for a budding business person. "It's a prominent building in our community and would be a great addition to our vibrant business precinct."

The last day of operation for the NAB branches at Wellington and Warren was Tuesday, August 22. Gilgandra branch is to close after Thursday 24 August.