In response to changing customer needs, the Cobar branch of the National Australia Bank (NAB) will be reducing its opening hours as of next month.
Alyssia Morison from the NAB’s corporate affairs branch contacted The Cobar Weekly last Thursday to explain the bank’s decision to reduce their opening hours in Cobar.
“The decision to reduce hours at this branch was a difficult one, but was made because less and less people are using it to do their banking and more people are using our online and mobile banking services,” Ms Morison said.
She said as a result of their changing customer needs the branch would be reducing its opening hours from the beginning of next month.
“NAB remains a part of Cobar community and the team is working to support customers through this change,” Ms Morison said.
Another local financial institution, Orana Community Mutual, also made the decision to reduce its opening hours in June last year.
In a letter sent out last May to members, the organisation explained its decision.
“We have experienced a change in the way our members are choosing to conduct their banking,” the letter said.
“Many now choose to transact online and as such, over the counter branch use has decreased over time.
“In fact many of our local members don’t visit the branch at all,” it said.
The letter explained to members that following a review of their face-to-face banking service they reduced their opening hours from June 1, 2015.
“We see these changes as adapting to a changing world, allowing us to be sustainable while maintaining strong relationships in our smaller communities into the future,” the letter said.
Siobhan Quinn, a senior media adviser with the Commonwealth Bank, said there are no plans to reduce the hours at their Commonwealth Bank Cobar branch.