FOUR BRANCHES CLOSING
The Rock Financial Institution will be closing banches and mini-agencies in the region stating was due to a lack of customers
THE Rock financial institution announced last week they would close a series of branches across Central Queensland.
Locally, the Biloela branch will close on November 10, Moura on September 29 and Baralaba on September 15.
The Theodore agency will also be closing.
Emerald, North Rockhampton, Emu Park, Mount Morgan and some Bundaberg branches will also be shut down during this time.
The closure of the CQ branches means only five will remain open in what was 13 locations.
Significantly affected will be the town of Baralaba as The Rock was the only bank service in town.
John Bigood owns the Baralaba Hotel and said it was going to have an impact on not only his business but the entire town.
“It will affect us because we will have to do our banking more often,” he said.
“It inconveniences us and it inconveniences everyone else in the town too, makes it harder for everyone.”
As the Baralaba shop no longer has an ATM, there is only one place where people can get cash out.
“And at the moment we are the only ATM in town so we have to feed the whole town,” John said.
“If someone wants money at 8 o’clock in the morning and we don’t open until 10am, they will have to wait until then.”
John said the branch closure would mean he would have to keep a lot more money in the ATM.
“Well it does, it gets used a fair bit and it gets used a lot more now the shop doesn’t have one and it will a lot more when The Rock closes,” he said.
It could also affect the future of the town.
“It’s not positive at all, anything that happens in any town with anything closing is not positive.
“And especially if the mine is going to reopen. They are talking about the mine reopening in October.
“Where are those people going to get cash from?”
A statement by The Rock said the closure of branches was a result of reduced use by customers.
“This is a reflection of more customers choosing to bank using secure and more convenient digital channels,” the statement said.
“The Rock recently upgraded its core banking platform and significantly enhanced its internet and mobile banking systems as it evolves into the modern bank of the future that customers have told us they want.”
As of last week, customers are able to do their banking at the local Australia Pot Offices.
“The Rock will introduce Bank@Post services which will allow customers to do their banking at Australia Port offices nearby,” the statement read.
When The Central Telegraph contacted The Rock they did not wish to make any further comment.
CASHING OUT: The Rock bank at Biloela will close in November.