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Council calls on NAB to reconsider Narooma branch closure - local says just close your account and w

Eurobodalla Mayor Liz Innes is calling on NAB to reconsider the decision to close its Narooma branch.

“It’s disappointing that a valued national institution such as NAB isn’t supporting local communities.

“Our Council has $15 million of investments with NAB, and we do our day-to-day banking with them. We want to do business with those who support our local community. We hope they’ll reconsider the decision.”

Narooma business owner and Eurobodalla councillor Phil Constable agrees.

“I’m astonished by the decision and I’m asking NAB to think carefully about the support they receive from this community beyond banking transactions at Narooma branch.

“NAB claim that 70 per cent of Narooma clients also use Batemans Bay and Moruya branches. That’s a reflection of the people who work outside Narooma, but also the greater shopping opportunities available in those towns – shopping leakage, as I call it.

“But with the recent announcement that Aldi is soon to open at Narooma Plaza, along with the expansion of Betta Electrical, that leakage will be reduced. I’m disappointed NAB haven’t taken that longer term view and considered the future development of the town.

Cr Constable is a long term business customer of NAB, having banked at the Narooma branch for 47 years.

“What concerns me is the loss of face-to-face interaction for our ageing population. Retirees can be less than confident using ATMs and that loss of face-to-face is a big blow for them, particularly if they’re managing investment accounts.

“As for using the post office for banking, it’s just not viable or appropriate. The post office can only accept $10,000 per day per business, and there are larger businesses in this town who will find that an obstacle.

“Lack of privacy at the post office is also a big concern for some of the businesses I’ve spoken to today.”

“Many of us bank at the NAB branch daily and collect our cash daily, so it will definitely be a disadvantage. We don’t know what we’re going to do. And finding out about the closure second-hand is a double-blow.” NAB has confirmed that its automatic teller machine at Narooma, will also go when the Narooma branch closes at the end of September. While the bank reiterates that its clients will still be able to use the Australia Post office pay bills, make deposits of up to $10,000 or withdraw up to $2,000 this has not appeased those in Narooma who the Beagle spoke to yesterday. "They have stuck up a blackboard that asks "Did you know our ATM can help you?". What a joke."

One local business woman who wishes to remain anonymous offered "The decision to close the branch has created a stir in social media with people saying we should have a community bank." "When I heard the news I looked across the street and saw immediate two options available. The IMB and the Commonwealth Bank. I chose the IMB and the transition has been seamless." "I need to bank cash, get change, deposit checks and from time to time discuss my overdraft". "Narooma has many older residents and the ones I know who have banked with the NAB for years became quite worried when they heard the news". "My advice to them is to just walk across the road and say hello to the two banks who both say they are there for the long haul".

IMB Narooma: 127 Wagonga St, Narooma NSW 2546


Open ⋅ 9am to 5pm Monday to Friday

Phone: (02) 4476 2922 Commonwealth Bank : Address: 131 Wagonga St, Narooma NSW 2546 Hours: 9:30am–4pm Monday to Friday Phone: (02) 4476 2900

St George maintain an ATM at Narooma Plaza 185 Princes Hwy, Narooma NSW

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