The last bank on Errol St is shutting shop

The last bank on Errol St is shutting shop

Commonwealth Bank Errol St will be closing its doors on Friday, November 15, sparking concerns for local businesses and residents. 

The North Melbourne branch, located at 51-53 Errol St, is the last of the big four branches to remain in operation, but Commonwealth Bank (CBA) confirmed to North West City News that it would be closing for good next month. 

“We remain committed to maintaining the largest branch network in the country and warmly welcome our North Melbourne customers to any of our nearby branches, including the six which are within three kilometres,” CBA Melbourne area manager Robert Kostadinovic said. 

 

Our Swanston St and Bourke St branches are popular banking centres for the local community. These are significantly larger branches, with more staff at each location, including home lending specialists, business bankers, and access to convenient self-service technology.

 

In addition to its two CBD branches at 191 Swanston St and 385 Bourke St, CBA also operates a branch at 317 Grattan St in Carlton. 

The CBA said that 35 of its ATMs were within three kilometres of the North Melbourne branch, and that is customers continued to have the widest range of cash access options available. 

It added that its Bank@Post service was still available from the North Melbourne Post Shop at 72-82 Errol St, and that it was working closely with its people from the North Melbourne branch to support their relocation to nearby branches or securing appropriate comparable roles suitable to their needs.

City of Melbourne councillor candidate for the Voices for Melbourne team and West Melbourne resident Mary Masters said that the news was “really bad for the community” due to the bank providing a lot of trade and stability to the area.

“It disenfranchises some of our community's most vulnerable,” she said. “We know that a lot of the customers are business owners or elderly residents.”

For Ms Masters, the closure of the bank highlights the need for the council to be more involved in supporting hyperlocal businesses to ensure there are essential services for all local community members. 

“We’ve got more pet shops than fruit shops in Errol St, which I think is an oversight,” she said. •

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