Thank you Chair.
I rise to speak about the Commonwealth Bank’s decision to close its branch at the Kenmore Village Shopping Centre from 27th February.
To say there is considerable anger among both residents and local businesses in my community about this is an understatement.
Upon learning of this decision in mid-January, I decided to do what I could on behalf of my community to try and convince the Commonwealth Bank to reverse its decision.
My first action was to organise an online petition stating my reasons why the branch at Kenmore Village should be retained.
Chair, I have been overwhelmed by the response to this petition and the support in general from small business operators, residents and the elderly.
As of today, more than 1,100 people have signed the petition and its still showing no signs of slowing down.
My next step was to seek the support of both the State Member for Moggill, Dr. Christian Rowan and Federal Member for Ryan, Elizabeth Watson Brown to seek their support in retaining the branch.
Both are on board and Mrs Watson Brown has indicated she would write to the responsible Federal Minister.
My third action was then to write directly to the Commonwealth Bank outlining my case for a review of their decision to close this branch.
Chair, I thought I presented a pretty compelling case. I pointed out that large numbers of residents will be inconvenienced by no longer having quick and accessible banking services nearby.
Of particular concern is the impact it will have on the large number of elderly residents who live in the Pullenvale Ward.
Many of them live in four local retirement villages and nursing homes and considerable planning is involved for them to get to Kenmore, let alone if they would have to travel up to a further six kilometres to Mount Ommaney, Toowong or Indooroopilly.
Local small businesses, essential to Kenmore’s economic vitality, will be adversely affected too. These enterprises rely on the convenient services this branch provides to manage their finances efficiently. Losing this branch means these business owners will have to spend precious time travelling to other locations, affecting their productivity and operational efficiency.
I appreciate and understand that more people in this day and age are doing their banking business online, but for many of them, particularly the elderly, technology can be overwhelming. Some either don’t have or are unable to operate a computer or device. They prefer to do their business face to face at a branch and they will be severely impacted if they are unable to do this at the Kenmore branch going forward.
Chair, late last Friday, I received a response from the Commonwealth Bank which was full of typical corporate spin, but disappointingly, gave no indication that the bank would consider my request.
I know the odds aren’t good, but that’s not going to stop me fighting for my community until I see the CLOSED sign at the branch on 27th February.
What really angers me is that the Commonwealth Bank is a $250 billion business. Its mission statement (and I quote) is “To excel at securing and enhancing the financial wellbeing of people, businesses and communities”.
Talk to residents in my community and they will tell you that the Commonwealth Bank has neither excelled OR enhanced their ability to conduct business with them.
Chair, a major part of the CEO’s annual multi-million dollar salary package are bonuses for making decisions such as this. But there should be a KPI rewarding commonsense and having a heart. Please, give us a break.
At the end of the day all we are talking about here three local jobs and he cost to rent a business space at Kenmore Village. Whatever that comes to, it would be repaid hundreds of times over in goodwill and loyalty should they reverse their decision to close this branch.
Thank you.