AUSTRALIAN BANKERS’ ASSOCIATION WILL CONDUCT ASSESSMENT STUDY
Inquiry into the level of banking and financial services in rural, regional and remote areas of Australia
Sydney, 15 November, 2002: The Australian Bankers’ Association (ABA) is advocating a new approach for the banking industry and the Federal Government to jointly assist in providing additional banking services to remote country towns.
Appearing late yesterday in Canberra before the Parliamentary Joint Committee on Corporations and Financial Services’ Inquiry into the level of banking and financial services in rural, regional and remote areas of Australia, ABA CEO David Bell, said the industry will:
· Conduct an assessment study of the banking needs in each of the 32 identified communities (see note on next page) with populations over 200 that do not have access to over-the-counter banking facilities within 20 kilometres of the community;
· On the basis of the study, ABA will discuss with the community if there is a requirement for some form of over-the-counter banking service, appropriate to the needs and the special circumstances of that community;
· If the respective communities are prepared to progress the matter, ABA will would then work with Australia Post, the Federal Government’s Rural Transaction Centre (RTC) program, local, state or territory authorities, as well as community-based organisations to determine an appropriate solution.
Mr Bell said: “The ABA would like to conduct this study in consultation with Australia Post and the Commonwealth Department of Transport and Regional Services, the coordinator of the RTC program. These two organisations already play an important role in providing banking services to rural and remote communities.
“In the course of progressing this matter we are mindful of initiatives that may be underway by other financial service providers. The ABA does not support the implementation of any solution, which would force the curtailment of any current service offerings in these communities, an action, which could be in effect, anti-competitive.”
Note:
The ABA has been working with The University of Adelaide’s GISCA – The National Centre for Social Applications of GIS, to develop a means of identifying the level of banking services in towns/localities throughout Australia. The ABA has included a Background Paper by the University of Adelaide as an Appendix B to the ABA submission (see ABA website) which looks at the distribution of banking and other services in regional and remote locations.
The research indicates that access to basic banking services – defined as an OTC cash withdrawal and deposit services - in remote and very remote areas of Australia is similar to the level of community access to police, pharmacies, hospitals and schools. The main finding of the research is that there are only 32 localities (with populations over 200) in Australia that do not have access to an over-the-counter banking service within 20 kilometres
For further information:
Heather Wellard
ABA PR
Phone: 02 8298 0411
Mobile: 0409 830 439
ENDS |