The last remaining bank branch in Blaxland is to close.
The Commonwealth Bank will shut its doors in Blaxland on May 25, citing a 43 per cent drop in over-the-counter transactions in the past five years.
“Following a recent review, we have made the difficult decision to close our Blaxland branch and understand that some members of the community will be disappointed,” a Commonwealth Bank spokeswoman said.
“Customers are increasingly choosing other banking channels to complete their banking using our mobile, online and phone banking services instead of visiting the branch and transactions at Blaxland have declined by 43 per cent over the past five years.”
Lower Mountains Neighbourhood Centre manager Peta Williams said the impact on the community would be huge.
“There will be no bank from Springwood to Penrith. A lot of elderly people will find it difficult to get to Springwood or Penrith and they don’t bank online,” she said.
“Weren’t the Commonwealth Bank supposed to be the people’s bank? With the money the Commonwealth makes, couldn’t they have committed to subsidising branches that are important to the community?”
Meanwhile Blue Mountains City Council is in the process of developing a master plan for Blaxland to revitalise the village centre, yet the last remaining bank branch is closing.
“Council is investing significantly in the master planning process,” said Blue Mountains mayor Mark Greenhill. “We want to revitalise Blaxland and this is a kick in the guts to the process but we will continue the process.”
He plans to raise the issue in a mayoral minute at the next council meeting.
“Bank profits are at record highs and we have a banking royal commission looking at banks’ behaviour and we hear that a small community like ours is to be forgotten. It’s just not good enough.
“Having no bank branch in my ward, ward 4, is completely unacceptable.”
The Commonwealth Bank spokeswoman said customers would still be able to complete personal and business banking transactions such as withdrawals, deposits and bill payments, including passbook accounts, during normal business hours at the Australia Post outlet in Blaxland.
