Regional bank branches sustain jobs and stronger communities: survey
The Regional Banking Investment Alliance (RBIA)
Regional bank branches sustain jobs and stronger communities: survey
Regional Queenslanders place great value on their local bank branches as employers and providers of community infrastructure, according to a new survey.
The Regional Banking Investment Alliance (RBIA) survey: Regional Banking Insights, found 97 per cent of respondents rated local bank employment as essential or important, and 95 per cent said the same of branches and shopfronts.
Survey respondents included bank customers in Cairns, Townsville, Mackay, Rockhampton, Sunshine Coast and the Scenic Rim.
CEO of Queensland Country Bank, Aaron Newman said the findings showed a regional banking policy needed to account for the wider community benefits of keeping branches open, including local jobs, support for businesses and access to trusted help.
The survey received 1,555 responses through RBIA-member banks in September and October 2026. Questions on local employment and physical banking infrastructure each received 1,329 responses.
Separate questions found 97 per cent valued banks helping keep decision-making local through participation in and understanding of the local economy, while 91 per cent rated sponsorship and community programs as essential or important.
In written responses about branch closures and the importance of regional banking, customers described concerns about jobs leaving town, spending moving to larger centres and the growing burden of travelling for banking services.
One respondent reported driving 260 kilometres each way for personal banking services. Others highlighted fuel costs, time away from work and reliance on family or friends for transport, particularly for older people and people with a disability.
Another raised concerns about AI replacing human interaction, trust and community connection.
Newman said those experiences should shape decisions about the future of regional banking.
“Regional people are telling us that a branch is part of the infrastructure that makes their town work. They value local jobs, local knowledge and a continuing relationship with people they trust,” Newman said.
“Counting the number of over-the-counter transactions alone misses that wider contribution. We need to ask what happens to the community when the staff, the service and the reasons to visit the main street disappear.”
RBIA said it was concerned about recent proposals from the Australian Banking Association for shared banking hubs which could lead to an erosion of services and jobs. The proposal should be assessed against its contribution to local employment, reliable access, privacy, local decision-making and ongoing community relationships, as well as the services available to customers.
The alliance renewed its call for the Federal Government to adopt its proposed Community Service Obligation to share the cost of sustaining full-service face-to-face regional branches across the banking industry.
RBIA estimates the model would cost around $153 million a year across the banking industry, with no taxpayer funding.
Funding would be available on equal terms to banks with qualifying regional branches, with participation optional for smaller banks.
“Banks that earn revenue from regional Australia should contribute to the services that help those communities remain viable,” Newman said. “A lasting funding arrangement would give banks greater certainty to keep investing in local people and branches.”
Survey notes
The RBIA Regional Banking Insights Survey was conducted through member banks in September and October 2026 and received 1,555 responses, focused on regional eastern Australia.
About RBIA
The Regional Banking Investment Alliance brings together regional banks and supporters advocating a Community Service Obligation to sustain face-to-face banking services for Australians regardless of where they live: rbialliance.com.au
Contact details:
Kath Rose