Koroit residents have been dealt a blow with the news that the town’s only bank branch will close in July.
The ANZ bank, which is open three days-a-week, services a population of about 4000 people.
The branch on Commercial Road opened on July 1, 2002 and will cease operation from July 12.
Moyne Shire mayor Jim Doukas said it was saddening and unexpected.
“Koroit is a vibrant country town with a growing population and prosperous businesses,” Cr Doukas said.
He said the closure would cause “great inconvenience”.
“The loss of any service is a blow, but the loss of a bank in a town the size of Koroit is particularly sad.”
An ANZ spokeswoman said the decision to close followed a detailed review.
“The review showed our Koroit customers have been increasingly using alternatives such as our mobile phone banking app, goMoney, internet banking or ATMs rather than the branch,” she said.
“Customers can also use the Bank@Post facilities located at the Koroit post office which will offer deposits, withdrawals and payments for customers using ANZ debit or credit cards. We also have phone and online banking services available to customers 24/7...”
She apologised for the inconvenience the closure caused and said they were looking to redeploy Koroit staff.
“We are fully supporting them through this transition period and making every effort to find redeployment opportunities for them.”
The move follows the news in April that the Terang Commonwealth Bank will close on June 30 leaving the town with one bank, the NAB. The Terang ANZ bank branch closed last year.
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