Last year, Australia’s big four banks made a cash profit, after tax, of $26.8 billion. It’s a profitable industry. 

But Bank branches around Australia are closing down. In my community, the Commonwealth Bank has just announced that it will close its Carnegie branch on 29 April 2022. This follows the decision of Bank of Melbourne, Westpac and earlier the ANZ.

By the end of April there will be no bank left in Carnegie. Not a single one. 250 businesses, thousands of residents and no bank.

Banking is an essential service. They owe a duty to the community to provide accessible services for all community members. It should not just be about profits. 

The Commonwealth Government has a role here. They may say that banks are private companies. But so is Telstra. And Telstra is required by law to provide a range of services to the community that it may not otherwise voluntarily provide. 

We know that locals are angry about this. So are we. That’s why we’re calling for the Commonwealth Government to step in and put some pressure on Australia’s banks over the closure of local branches.

Together we can send a message to Australia’s banks – don’t put profits over people.