Alternative means of providing banking and like services in regional Australia
Media Releases

Media release, 27 July 1998

REGIONAL BANKING INQUIRY TO HOLD PUBLIC HEARINGS IN CANOWINDRA AND NEWCASTLE

Westpac, the Australian Association of Permanent Building Societies, the Newcastle Regional Chamber of Commerce, and Dr Neil Argent and Dr Frances Rolley of the University of New England will appear before the influential House of Representatives Financial Institutions Committee on Monday 27 July. Public hearings will be held in Canowindra followed by Newcastle. The public hearings are part of a wide-ranging inquiry into alternative banking for regional Australia being conducted by the Committee.

The Chairman of the Committee, David Hawker MP, said, "In Canowindra, Westpac will be demonstrating a third party agency arrangement, an example of which has been established in the local newsagency. Westpac will also be announcing a number of policy initiatives. The Committee is very interested in this development. It is also interested in getting more details about Westapc's recent deal with the Tasmanian Government to provide banking services through government service agencies. These proposals are among a range of banking alternatives which the Committee is investigating in this inquiry. It is a positive development to see banks and government cooperating to provide access to banking services in rural areas."

"In Newcastle we will be exploring a range of issues with the Newcastle Regional Chamber of Commerce and the Australian Association of Permanent Building Societies. As a large regional business network, we are interested in hearing the Chamber of Commerce's recommendations, particularly in regard to rural and regional small businesses. The Building Societies, with their regional focus, are an important part of rural and regional banking. We are looking to see how they can possibly assist rural communities maintain access to financial services. The Committee will also be talking to Dr Argent and Dr Rolley of the University of New England who have challenged some of the reasons given by banks for the closure of branches. The Committee will look at the issues raised in the submission more closely."

Mr Hawker added, "The Committee has so far been very successful in raising the profile of this important issue. The recent seven-point proposal put to the Committee by the Australian Banker's Association is evidence that the banks are now aware of just how important bank services are to regional and remote Australia. We are committed to finding the best possible solutions for people in rural and remote areas. Visiting regional areas allows the Committee to explore as many alternatives as possible."

Release ends
27 July 1998

Further information:
David Hawker MP (Chairman) 02 - 6277 4837
Janet Connaughton (Inquiry Secretary) 02 - 6277 2375
e-mail: EFPA.Reps@aph.gov.au

Public Hearing Program - Monday 27 July

Venue

Committee Room 6
Newcastle City Hall
290 King Street
Newcastle

2.00 - 2.45pm Dr Neil Argent
Dr Frances Rolley

2.45 - 3.30pm Australian Association of Permanent Building Societies

3.30 - 4.15pm Newcastle Regional Chamber of Commerce

Secretariat contact details:

The Secretary
Standing Committee on Financial Institutions and Public Administration
R1.121
Parliament House
CANBERRA ACT 2600
Telephone: (02) 6277 4587
Facsimile: (02) 6277 4557
Mobile: 0418 434 971
EMail: FIPA.Reps@aph.gov.

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