TWO Hunter bank branch closures in a week has led to a local MP unloading on the "rich fat cats in Sydney" who don't understand the banking needs of regional communities.
The National Australia Bank has revealed it will close its Cessnock branch in June, while Westpac will shut its Newcastle branch and "co-locate" banking services with St George in a new office.
The Cessnock branch is the last remaining NAB branch within the local government area, and if the bank pushes ahead with the closure, customers will have to travel more than 30 kilometres to the nearest branch.
Hunter MP Dan Repacholi, an Olympic medal winning pistol shooter, gave NAB both barrels, calling the decision "an absolute disgrace" and telling customers to change banks.
"The National Australia Bank has chosen to abandon the Cessnock community despite making more than $7 billion in profit last year," Mr Repacholi said.
"These large corporations do not understand the needs of smaller regional communities.
"These rich fat cats in Sydney office blocks, who never travel to regional areas, now expect customers to travel 30 kilometres to Maitland or Glendale just to do their banking.
"Given that the National Australia Bank are walking away from us, I'd urge those who can, to walk away from them."
Westpac said its move from a solo office in Hunter Street to a shared office in Beaumont Street was prompted by the "expiry of the existing lease" at its current site.
A Westpac spokesperson said the bank had invested $4 million into its physical sites in the past three years, including upgrades to its Newcastle business banking centre and co-located branches in Charlestown and Hamilton, "all of which provide greater access to banking services for our customers."
However, it's safe to say Mr Repacholi disagrees.
"We are seeing banks becoming more disconnected from their customers and this is a step in the wrong direction."
