Sam Lim (Tangney, Australian Labor Party) Share this | Link to this | Hansard source

I speak today with a heavy heart about the recent action of banks, like Bankwest, who, at short notice, closed all their physical branches and moved everything online in my electorate of Tangney. In these difficult times, when many in the community are struggling with the cost of living, it is hard to accept that banks are making it even harder to do simple things like banking.

I've received hundreds of emails and calls from my constituents who are concerned and frustrated over the lack of social responsibility that banks have shown for the community. These Bankwest branch closures only serve to widen the gap between those with easy online access and those without.

Let us not forget that, while these closures are occurring, banks are continuing to report record profits. It is a stark reminder of the misalignment between their corporate priorities and the social needs. I ask the banks, including Bankwest, to think again about their decisions. Banks need to understand that their actions affect real people. I urge banks to reconsider their decisions and their social obligation to the communities they serve.