Community and business leaders have slammed ANZ's decision to shut its Cessnock branch, which comes just a weeks after the bank announced a $6.55 billion profit over the last year.
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It was revealed last week that the Vincent Street branch is set to close its doors on April 19, 2023, leaving Maitland and Glendale as the nearest bricks-and-mortar options for local ANZ customers.
"We've seen a significant change in the way our customers prefer to bank, with in-branch transactions declining by 70 per cent in some cases," an ANZ spokesperson said.
"We have commenced a process to inform our customers about the branch closure, while also ensuring they are well supported during this transition. This includes assisting them with alternative banking methods such as online, telephone and mobile banking options.
"ANZ customers can visit our Maitland and Glendale branches for their face-face banking needs.
"Our customers can also use the atmx network at no charge and ATMs operated by the other major banks, fee-free.
"Customers can also withdraw money using EFTPOS facilities at the Coles, Woolworths and IGA supermarkets in Cessnock, along with other major supermarkets Australia-wide."
ANZ could not confirm how many jobs would be lost due to the closure of the Cessnock branch, but during times of change such as this, it provides opportunities for redeployment wherever possible.
Cessnock mayor Jay Suvaal said he was disappointed to learn the bank branch would be closing.
"It's another example of banks walking away from regional communities while recording huge profits.
"The ANZ's decision to close the Cessnock branch will come as a blow to many in our community," Cr Suvaal said.
"The bank has continued to record billion-dollar profits while its share price climbs.
"This closure will see jobs gone from our community while the bank's customers will be forced to travel further afield to do their banking in person.
"The Cessnock community has long supported the ANZ Bank. I am calling on the ANZ to support the people of Cessnock by urgently reversing its decision and committing to keeping our local branch open."
Cessnock Business Chamber president Clint Ekert also condemned the decision and urged ANZ to reconsider.
"This branch is pivotal to the Cessnock community, and I am disappointed to see ANZ close this branch during a period of record profits," Mr Ekert said.
"This decision shows just how much concern is shown for regional and rural communities by ANZ Bank.
"In metro areas it might be OK to suggest customers can travel to the next branch 30 minutes away, but, in Cessnock, where public transport is almost non-existent, this creates a much larger problem.
"For ANZ customers relying on public transport it is now a 112-minute round trip to the nearest branch in Maitland, and with the decision to close Cessnock, how long will Maitland branch remain in place?
"In a year when ANZ recorded profits in excess of $6 billion, it is a very hard pill to swallow for customers living in Cessnock relying on this branch to assist them.
"I am urging ANZ to consider another option for the Cessnock branch.
"I will be reaching out to the other banks in Cessnock to banks to ask what their future plans are as well."
Town coordinator Anthony Burke said the withdrawal of ANZ from Cessnock will have flow-on effects to local organisations and sporting groups.
"Banks like the ANZ sponsor events, groups and sporting clubs, with the Cessnock branch closing I fear will have a significant impact on our local community," Mr Burke said.
"Not only will it make it difficult for locals to access their banking with no branch or ATM, we are also going to see a loss of jobs."
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Krystal Sellars
Krystal Sellars is the Senior Journalist at the Cessnock Advertiser. Born and raised in Cessnock, she started her journalism career at the Advertiser in 2006 after completing a Bachelor of Communication at the University of Newcastle. Contact her on krystal.sellars@cessnockadvertiser.com.au.
Krystal Sellars is the Senior Journalist at the Cessnock Advertiser. Born and raised in Cessnock, she started her journalism career at the Advertiser in 2006 after completing a Bachelor of Communication at the University of Newcastle. Contact her on krystal.sellars@cessnockadvertiser.com.au.
