Gunnedah in spotlight as Commonwealth Bank extends regional branch commitment

Gunnedah has been put in the spotlight serving as the backdrop for a Commonwealth Bank announcement about regional bank branches.

Last week, the nation’s largest bank extended its commitment to keep all of its regional bank branches open at least until the end of 2030.

Commonwealth Bank staff from the region featured as part of an announcement as well as local faces.

Gunnedah real estate agent Richard Gallen, business owner Mel Bartlett and chamber of commerce president Michael Broekman were included in the company’s video announcement.

“Having a local branch as a rural community, in my opinion, is essential,” Mel Bartlett said.

“The branch is terribly important to us and it has been for a long time,” Richard Gallen said.

“Doing face-to-face banking and being able to talk to someone makes me feel safe,” Michael Broekman said.

Gunnedah Shire mayor Colleen Fuller was also among the attendees when the company made the announcement in Gunnedah.

Bank branch closures have previously dealt a striking blow to communities across regional NSW, including the North West.

Gunnedah’s ANZ branch closed in May 2023.

For Wee Waa, ANZ closed its Rose Street branch in February 2021 with the NAB following suit just months later. Both branch closures in the nation’s ‘Cotton Capital’ were condemned at the time by various levels of government as it left the town’s residents, and those who live in western communities, no other alternative than to travel to Narrabri to access banking and financial services.

CommBank was the first bank to issue a regional commitment back in February 2023.

Westpac has also vowed not to shut any branches until 2030 while NAB and ANZ have both promised no closures before July 2027.

Addressing the commitment extension announced last week, Commonwealth Bank chief executive officer Matt Comyn said the company will give customers, local businesses and communities long-term certainty that the banking they trust will remain in place.

“We understand how important access to in-person services is for our customers, along with mobile, phone and online banking. We believe this importantly provides certainty for our people and our customers in the near term, while we remain committed to working constructively with the banking industry on a long-term sustainable solution,” Mr Comyn said.

“Regional communities are central to the Australian economy and our way of life. We have been part of these communities for generations, and today we are providing certainty that every one of our regional branches will remain open into the next decade.

“Our customers bank with us in different ways, in a branch, on the phone, online or in the app, and we’re investing across all channels so customers can continue banking the way it suits them.

“When customers visit a branch, it’s often because the moment matters, whether they’re buying a home, growing a business or resolving an issue that needs personal support.”