Bendigo Bank closure a blow to Yarram

The announcement was delivered without warning via email to the Mayor and CEO on 25 June, with no consultation or engagement with the local community. This move demonstrates a complete disregard for the essential role regional branches play in supporting rural towns like Yarram.

Coastal Ward Councillor and Yarram resident, Cr Garry Stephens, said the closure would have serious consequences for the town and urged the bank to reconsider the broader social and economic role of regional branches.

“I’m frankly devastated by this news,” Cr Stephens said. “Bank branches are more than a place to manage money, they’re a lifeline for older residents, small businesses, community groups and those who rely on face-to-face service.”

“I was in the branch this afternoon. There were two people ahead of me and three more waiting as I left. Clearly, the need for in-person banking in Yarram hasn’t gone away.”

Cr Stephens said the closure would significantly affect local groups that handle cash and rely on secure banking services.

“Community organisations regularly deposit and withdraw cash for events and fundraising activities. Decisions like this place more pressure on already stretched volunteers, and on places like the local post office, which I’m sure won’t appreciate the extra burden.”

He also highlighted the inconvenience of travelling long distances for banking.

“Traralgon is 62 kilometres away, more than 45 minutes through hills, kangaroos and wombats - not exactly a quick trip for older residents or time-poor locals. If I’m forced to go that far, I might as well go back to one of the big four banks who left town years ago.”

Cr Stephens emphasised that now is the time to invest in towns like Yarram, not walk away. “Yarram is on the cusp of transformation, with offshore wind and renewable energy infrastructure set to define Victoria’s clean energy future. It’s unacceptable for services to be withdrawn just as our region is set to grow.”

He also expressed concern for local staff.

“These employees are more than workers, they’re our neighbours, friends, and the familiar faces our community relies on. Their future deserves to be treated with the respect and care they’ve shown to others.”

Council is urgently seeking clarification from Bendigo Bank on whether the decision properly considered the region’s future growth, especially in light of economic and workforce opportunities linked to the renewable energy sector.

Council is also calling for meaningful consultation with the Yarram community, something that appears to have been completely overlooked in this decision. Local voices must be heard before major service changes like this are made.

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