Media release, 20 April 1998
BANKING SERVICES IN REGIONAL AUSTRALIA
The National Australia Bank and Australia Post will be in the spotlight
at a public hearing in Melbourne on Wednesday.
The Chairman of the influential Financial Institutions Committee, Mr
David Hawker, described this as the continuation of a process that aims
to ensure that Australians in regional and remote Australia, and wherever
else banks are closing down, have access to those financial services which
are essential features of modern living.
Mr Hawker said, "The Committee has been successful in raising the profile
of this important issue and over the course of its inquiries has gained
valuable insights into the situation in the bush."
"In talking with the National Australia Bank, the first of the major
banks to appear before the Committee, we want to identify how financial
services will be delivered in the future and whether they will meet the
needs of people in regional Australia, where rationalisation of the traditional
bank branch network is having the most severe effect. The NAB has raised
a number of possibilities such as having financial institutions share
facilities or the appointment of an agent to represent all the major banks
in each community. We are interested in exploring these proposals with
the NAB."
"Australia Post, with 4000 outlets, is another important provider of
services with a strong presence in the bush. We are interested in exploring
a number of issues such as the expansion of the giroPost network and the
possibility of Australia Post establishing itself as an Internet Service
Provider, which is a very interesting development with the potential to
greatly benefit rural customers."
"Although there have been a number of positive developments, such as
moves by regional banks to establish franchise and community banking,
it is important to know what big institutions such as NAB and Australia
Post have planned and what they are prepared to offer as alternatives.
The more alternatives that are available the better, as this will provide
people in rural and remote areas with as much choice as possible."
Mr Hawker added, "I want to stress that this inquiry is not a 'get the
banks' exercise, we want to see what banks are prepared to offer as an
alternative when closing a branch and we also want to see what other service
providers might be prepared to do for regional Australia. The hearings
will continue in Launceston on Thursday where we will be speaking with
the Post Office Agents Association, the Trust Bank and various community
and business groups."
Release ends //21 April 1998
Further information:
David Hawker MP (Chairman) 02 - 6277 4837
Janet Connaughton (Inquiry Secretary) 02 - 6277 2375
e-mail: EFPA.Reps@aph.gov.au
PUBLIC HEARINGS PROGRAM - MELBOURNE
22 April 1998
Training Room 6
Level 4
Customs House
414 La Trobe Street
MELBOURNE
Wednesday 22 April 1998
- 10.00am - 10.45am Australia Post
- 11.00am - 11.45am Municipal Association of Victoria
- 11.45am - 12.45pm National Australia Bank
- 1.45pm - 2.15pm Associate Professor David Merrett
- 2.15pm - 3.00pm Financial Sector Union
- 3.30pm - 4.00pm G A Cossar & Co Pty Ltd
- 4.00pm - 4.45pm Colonial State Bank
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