Westpac to Shut its Doors on the Beaudesert Community
Wednesday, 13 February 2019
After the recent decision made by Westpac to close down its branch in Beaudesert, Federal Member for Wright, Scott Buchholz, has expressed his disappointment as he understands the inconvenience of this decision for individuals and businesses that rely on face-to-face banking services.
“It is always shattering when a bank chooses to turn its back on a community,” Mr Buchholz said.
“It simply seems incomprehensible when you hear the annual profits of the banks in excess of $5b, yet they still pursue even greater profits at the expense of our local community.”
Mr Buchholz said there were clear winners and losers from this decision taken by Westpac.
“Good luck if you are a bank shareholder or your super fund invests in the banks, but bad luck if you are a customer and rely on the Westpac Bank, be it for your pension, mortgage payments or business transactions,” Mr Buchholz said.
“I know it is difficult to migrate to another bank, but as a show of defiance, I encourage locals to support a bank which supports our community.”
State Member for Scenic Rim, Jon Krause, said that the closure of the Beaudesert Westpac branch will have a significant impact on local businesses and members of the Beaudesert community.
“From the New South Wales border to the next nearest Westpac branch is a distance of 115km.”
“Beaudesert has already suffered the loss of two major banks with BOQ and ANZ shutting their doors.”
“If Westpac can turn its back on a community the size of Beaudesert then what town, or business, will be next?”
“Our small businesses, our elderly people who need to talk to somebody at a bank – they are the big losers here and I know from speaking to local shopkeepers and café owners that they are absolutely livid – especially those that in everyday business utilise banks for depositing the day’s cash takings.”
Mr Buchholz and Mr Krause said in light of the shocking behaviour exposed by the Royal Commission into the banking sector they encouraged representatives of Westpac to meet with and listen to community members and businesses, and to reconsider the closure of its Beaudesert Westpac branch.