Thank you Chair.
I rise to speak again about the Commonwealth Bank’s decision to close its branch at Kenmore Village.
I spoke about this pending closure here a few weeks ago in the hope that the bank might be big enough to admit it got it wrong and reverse its decision.
But unfortunately, no. Its announced closure date of February 27th came and went last Friday and sadly, the branch is now closed.
Despite our best efforts with a petition attracting more than 1,400 signatures, letters to senior executives and strong local media coverage, the Commonwealth Bank has ignored its many customers in the western suburbs who requested the branch at Kenmore Village be retained.
I was advised last Wednesday – two weeks after writing to the Commonwealth Bank CEO and two days before the scheduled closure – that there would be no change of heart.
This is both disappointing and illogical and its hard to argue when people say to me that the Commonwealth Bank puts profit over people.
Chair, the Federal Labor Government could have and should have done more to remind the bank of its corporate obligations to the Australian public.
The Federal Member for Ryan shared with me the letter she wrote to the Assistant Treasurer and Minister for Financial Services about this closure only to be told not to expect a response for four weeks. Well, four weeks has come and passed and as far as I’m aware, no response has been received.
If we buried our heads in the sand like Minister Mulino has, we would all be looking for a new job in 2028. Its simply not good enough to buy for time in the hope that the issue will go away.
Chair, I’m sorry for the many customers, particularly the elderly who wished to continue conducting their banking business face to face and the many small business operators who will now be inconvenienced having to travel to larger shopping centres to do something that used to take 10 minutes at Kenmore.
And I’m sorry I couldn’t convince the bank that they were making the wrong decision.
It makes a mockery of their own mission statement to “secure and enhance the financial well-being of people, businesses, and communities”.
What the decision makers at the CBA continue to fail to understand is that directing its customers to the Kenmore Village Post Office to undertake their banking business actually creates more problems than it solves. The Post Office is already busy enough with its own core business activities without adding banking to the list.
Its all very well for the Commonwealth Bank to crow about a $5.45 billion half yearly profit but at what price? As I said before, profit over people.
Like many other disappointed local customers, I will be reviewing my association with the Commonwealth Bank. Its not likely to create any impact on their bottom line but its one small way of making our disappointment known.
Thank you.