Banking – More than a transaction

As a customer-owned, purpose led bank, we believe that banking is not just a transaction.

Our CEO Stephen Capello recently appeared at the Senate Inquiry into Regional Bank Closures in Junee, following a submission made by Hume Bank earlier this year.

We understand face-to-face banking services are important. But they are not the only component that make up “essential banking services.”

Mr Capello said Hume Bank’s submission to the inquiry demonstrates the significant role branches play in regional communities. One that is far greater than just day-to-day banking.

“Branch closures impact accessibility and reduce equality,” Mr Capello said.

“That is why we are actively working with our communities and local governments, to deliver a model that reflects our purpose, to always put our communities first through a shared value model.

“We believe this is a model which serves our community well today and into the future, because we genuinely believe banking has a greater good to provide a positive impact on both customers and the community.”

Hume Bank already has the largest branch network in its region. And in March, opened its 15th branch in the small southern New South Wales town of Holbrook.

“As a regional bank, we have a strong understanding of the needs of regional communities,” Mr Capello said.

“We also believe that regional Australians deserve access to essential services. Without branches, businesses, community organisations and individuals are all impacted.”

Based on community consultation, we know when it comes to banking services, there is a need for a level of access to education, expertise, and advice.

As we look to the future, we expect to have a strong branch network for many years to come with face-to-face banking being a key part of our proposition for our customers and the community.

At its core, we believe branches are a demonstration of our purpose. In regional Australia, based on the insights we have gathered, bank branches play a role well beyond that of providing ‘essential banking services.’