BULOKE Shire Council is urging Bendigo and Adelaide Bank to reconsider withdrawing its agency in Wycheproof.
The bank last week announced it was axing the agency network in October, impacting close to 30 regional areas in Australia.
The nearest Bendigo Bank branch to Wycheproof is Swan Hill. The Boort agency will also close, with Kerang being the closest banch.
The Wycheproof agency, located at Wycheproof Health & Beauty, will close on October 21.
Bendigo Bank’s agency model, established more than 30 years ago, enabled the bank to offer limited banking services via third parties in areas where there was not enough customer demand to sustain a branch.
Following a review, the bank had concluded that its agency model can no longer be supported due to decreasing customer use and other relevant factors, and will be retired from October 2025.
“The bank apologises to customers that use these agencies for any inconvenience,” it said in a statement.
“With over 400 locations nationally, the bank remains committed to its physical network and the personalised interactions that occur in branches every day.”
A Wycheproof resident, who wished to remain anonymous, said the town “deserves better than this”.
“This town supported Bendigo Bank for decades, and this is the thanks we get? Just shut the door and walk away?” she said.
“They always say they care about the community – until it’s not profitable.
“What about the people who can’t just drive an hour to the next branch?
“We’re not asking for luxury, just basic banking services.
“If they pull out now, they’re leaving elderly residents and small businesses completely stranded.
“It’s always the same story: city decisions made by people who’ve never even been to Wycheproof.
“We deserve better than this.”
Chief customer officer consumer Taso Corolis said the “difficult” decision to retire the agency model has been informed by “evolving customer preferences leading to reductions in business activity, limited use of these services, and an increase in costs and compliance obligations”.
“Bendigo Bank operates more branches per customer than any other Australian bank and is Australia’s second largest regional branch network,” Mr Corolis said.
“We are proud of our regional heritage and are committed to providing face-to-face banking services for our customers.
“To preserve what makes our bank unique, we must prioritise our investments across both physical and digital channels to continue meeting the changing needs and growing expectations of our 2.7 million customers.”
The council urged the bank to reconsider the withdrawal and instead “lead with innovation”.
“This doesn’t need to be the end – it could be the start of something smarter,” Mayor Cr Alan Getley said.
“The Bendigo Bank may see the agency model as outdated, but the relationship certainly is not.”
The mayor cited that the Bendigo Bank has a “proud history of community reinvestment and grassroots connection making it uniquely placed to be the pioneers again – one that uses technology to support human connection, not replace it”.
“While the bank cited reduced service use as a reason for closure, this does not eliminate the ongoing need for face-to-face assistance from trained navigators and provision of secure digital banking services,” Cr Getley said.
The closure leaves Wycheproof with limited options: Bank@Post services at the post office during business hours, and a 24/7 Westpac-branded ATM for cash withdrawals.
“Let’s at least have a conversation to see how we can modernise the process such as multi-tiered partnering without erasing the connection,” Cr Getley said.
Mr Corolis said the bank would support customers through the changes.
“We are proactively supporting customers affected by the closures and will offer them assistance,” he said.
“This may be in the form of connecting them with their closest alternate service, including nearest branch or Bank@Post locations, and walking them through e-banking services available, when required.”
Member for Mallee Anne Webster said she was disappointed that four of the 28 closures were in the Mallee.
“The Nationals fought for and secured a senate inquiry into regional bank closures which successfully pressured the big four banks to put moratoriums on further regional bank closures extending into mid-2026 or mid-2027,” she said.
“Bendigo Bank were not parties to that moratorium and I respect these are agency, not branch, closures.
“Nonetheless, Wycheproof, Wedderburn, Boort and St Arnaud residents will lose a service.”
Dr Webster said as shadow minister for regional communications, she was exploring whether Australia Post, within her portfolio, could be supported to provide services in towns where Bank@Post remains or can be extended.
For branch and ATM details, visit www.bendigobank.com.au/locate-us/.
