Mary Aldred (Monash, Liberal Party) Share this | Hansard source

I rise today to speak on the importance of banking facilities in regional communities. Bricks-and-mortar banking in our regions is critical for small businesses, for older Australians, for people with a disability and for anyone who simply can't travel to the next town down the road. The Bendigo Bank recently announced it would close its Korumburra branch in South Gippsland. This is a terrible outcome for our community and one that demands the opportunity for broader national focus.

In 2023 the Senate undertook an inquiry into bank closures in regional Australia. The committee reported in May 2024, after a serious consultation period that ran for 15 months. It had 13 public meetings across Australia and received over 600 submissions. I make special mention of the Korumburra roundtable's fine advocacy on behalf of our community in its submission. There were eight specific recommendations aimed at addressing what was described a growing humanitarian crisis in both regional areas and capital city suburbs.

It is over a year since the inquiry's report was handed down, and, according to the Finance Sector Union, in that time we've seen branches close at a rate of two to three per week. Despite the fact the Albanese Labor government was required to respond within 90 days of the tabling of the report, the recommendations remain unresolved a full year later. On behalf of residents in South Gippsland, who are about to have their last remaining bank branch closed, I call on the Albanese government to get its act together and respond to this report.

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