Circular Head Council has seen two bank branches close, now the community has stepped in

As most regional areas lose bank branches, this town in Tasmania’s northwest is regaining one. How the local community is planning to expand services.

Smithton in Tasmania's North-West.

It’s been a rough 12 months for the Circular Head region after both the Commonwealth Bank and ANZ closed its branches at Smithton.

However, there is relief in sight.

Circular Head Community Financial Services Limited (CHCFSL) has bought the former Commonwealth Bank branch and will move the Bendigo-owned Community Bank Smithton and District there.

CHCFSL chair Tom Glynn said the move would allow the new branch to be a fully-fledged bank, as its current location only allows it to provide limited services.

“When the two big branches closed, there was disappointment and anger,” Mr Glynn said.

“It’s a wealthy area and very agricultural-based, so there was a lot of engagement with the banks.”

Circular Head Mayor Gerard Blizzard.

Mr Glynn said the new bank would provide security for the community.

“The people who work there will be known to people in the community.

“It’s just a sign of confidence that there’s an actual structure here, and it’s not an online process.

“Bendigo is really up there with most banks with online services, but we just felt that face-to-face is still important, and presence is very important for confidence.”

Circular Head Mayor Gerard Blizzard said it was excellent news that CHCFSL was expanding its services.

“The branch closures have created a lot of frustrations around the community,” Mr Blizzard said.

“The community bank can only do a limited number of things.

“I know of people that were driving to Wynyard to do their banking, which is the best part of an hour.

“The general frustration of not having something that is really an essential service has been disappointing.

“This gives us the opportunity to return to full service.”