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Forum highlights vital role of local banks in regional communities

Queensland Country Bank

Forum highlights vital role of local banks in regional communities

 

Townsville, 16 October 2025 – Today, the latest Regional HQ Forum was held in Townsville, hosted by Queensland Country Bank CEO, Aaron Newman, and included more than 24 delegates from banks across Queensland, New South Wales, Victoria, Northern Territory, and Tasmania. The Forum also brought together representatives from the Regional Banking Investment Alliance (RBIA) to discuss the future of regional banking. IMAGES HERE

 

The Forum comes amid growing concern over the closure of regional branches by major banks. Since February 2022, more than 90 regional branches have been shut, including over a dozen in 2025 alone. In contrast, RBIA members continue to invest in regional communities, opening new branches without government or industry support.

 

Townsville, home to Queensland Country Bank’s head office, is a key regional centre in Northern Australia. As one of the founding members of the RBIA and a major employer with over 400 staff, Queensland Country Bank continues to invest in face-to-face banking services, supporting the financial wellbeing of local residents.

 

Aaron Newman, CEO, Queensland Country Bank, said: “Having our head office in Townsville keeps us grounded in the realities of regional life and ensures our decisions reflect the communities we serve. At the same time, staying competitive means we must identify, attract, and retain talent across all regions and continue evolving our services to meet changing Member needs.”

 

“We provide critical services like fraud and scam advice, cash handling, loans, and deposits, and we create local jobs. But it’s challenging when competing against the major banks that aren’t contributing in the same way. Around 30% of transactions in our banks lead to pass-through banking, where customers rely on our services but their funds benefit the major banks instead. That disadvantages our ability to grow and invest further.”

 

Newman emphasised the RBIA’s push for a Community Service Obligation (CSO): “This modest, industry-funded initiative would see banks contribute approximately $153 million annually, to support regional branches. Each eligible bank branch would receive roughly $300,000 to maintain trained staff delivering essential services like cash handling, loans, and fraud prevention.”

 

Sophie Menzies, organiser of the Forum, said: “Regional banks play a unique role in their communities, not just as service providers, but as employers, sponsors, and local decision-makers. Keeping head offices in regional towns ensures decisions are made with firsthand insight and genuine care for the people they affect. The tyranny of distance is something regional Australians live with every day. Access to essential services like banking cannot be taken for granted.”

 

Chris Grice, CEO, National Seniors Australia, a supporter of the RBIA added: “Face-to-face banking is essential, particularly for older Australians and those in regional and remote communities. Local branches provide not only services, but also advice on scams and fraud prevention, employment, sponsorship, and financial support that cannot be replicated online. Regional banks deserve support and recognition for their commitment to keeping these services alive.”

 

The Regional HQ Forum underlined the critical role of customer-owned banks in sustaining regional communities and highlighted ongoing calls for fairer support from government and the banking sector.

 

 

About Regional HQ Forum

Regional HQ is a collective of the remaining 20 customer-owned banks that have their head offices located in regional Australia. The Forum began as an annual meeting of CEOs and Board Members from mutual banks in Central West NSW and now customer-owned banks across regional Australia. It aims to:

• Sustain customer-owned banking in regional Australia
• Explore synergies and challenges
• Encourage suppliers to engage with regional customers

Previous Hosts:

• Oct 2023 – Macquarie Credit Union, Dubbo NSW
• Apr 2024 – Bank of Us, Launceston TAS
• Nov 2024 – Regional Australia Bank, Armidale NSW
• Mar 2025 – Central Murray Bank & Bank WAW, Wodonga VIC

 

About Regional Banking Investment Alliance

The RBIA is made up of 23 regional banks, including: Regional Australia Bank, The Capricornian, Traditional Credit Union, Broken Hill Bank, Northern Inland Credit Union, Cairns Bank, The Mutual Bank, Central Murray Bank, Bank Orange, Summerland Bank, Horizon Bank, Geelong Bank, Family First, Darling Downs Bank, Bank WAW, SWSbank, Hume Bank, Goulburn Murray Credit Union, Central West Credit Union, Queensland Country Bank, Coastline Bank, G&C Mutual Bank and Unity Bank.  Early supporters include the Country Women’s Association of NSW, National Seniors Australia, Combined Pensioners & Superannuants Association and Regional HQ.  More info: https://rbialliance.com.au/

 

ABOUT Queensland Country Bank

Queensland Country Bank is a member-owned bank headquartered in Townsville, with a proud history of serving regional Queenslanders since 1971. Originally founded as the Isa Mine Employees’ Credit Union, the bank has grown from its Mount Isa roots to become a trusted financial institution supporting communities across the state. As a major employer in Townsville, Queensland Country Bank plays a vital role in the local economy, with more than 400 staff and a strong commitment to face-to-face banking services. Its head office remains in Townsville, reinforcing the city’s status as a core regional hub for customer-owned banking. The bank offers a full range of banking and insurance services through its branch network and Queensland-based contact centre, ensuring accessibility for all Queenslanders. It is also known for its Good for Good Community Grants program, which has invested over $3 million into local initiatives since 2005, supporting health, education, sport, environment, and cultural projects across the state. Queensland Country Bank is a proud founding member of the RBIA and continues to advocate for fair access to essential banking services in regional communities. More info: queenslandcountry.bank

 

 

Contact details:

Kath Rose – 0416 291 493 | [email protected]