Stay of execution for Junee as Commonwealth Bank announces regional closure moratorium

The people of Junee are rejoicing after the town's last remaining bank, the Commonwealth Bank, announced on Friday it would keep its doors open until at least 2026.

As part of the announcement it would extend its commitment to the Junee community, the Commonwealth Bank has declared it would not close any of its regional bank branches, including those across the Riverina, until at least the end of 2026.

Manager of Junee video store Movies Plus, Marney Wishart, said it was great news and was glad that common sense prevailed.

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"It's a little victory for the customers because we never believe the story that the bank wasn't being utilised," Ms Wishart said.

"Anytime you go in there there are a half dozen people waiting to be served."

The Junee branch had been due to close earlier this year but the Commonwealth Bank announced it would press pause on that decision while the ongoing senate bank inquiry took place.

Ms Wishart does her banking at the local branch and said it would have caused a major upset if the branch had closed.

"It was going to put a complete spanner in the works if they were no longer in town," she said.

"We would have had to carry more cash... and reconfigure the way we managed cash flow in the business to accommodate the bank closure."

If the bank had closed, members of the local community would have been forced to bank online, use Bank@Post services at the local post office or travel to Wagga or another nearby town just to conduct basic bank services.

"There's limits to what Australia Post can do," Ms Wishart said.

"That's not knocking them, but they're not a bank [at the end of the day]."

Junee Licorice and Chocolate Factory was also set to be sigificantly impacts by the branch closure and owner Neil Druce was thrilled at the bank's announcement to stay in the town another three years.

"It's great news for the community out here, both businesses and individuals, that we will have a bank we can use," Mr Druce said.

"I'm so happy with the Commonwealth Bank administration that they reversed their previous decision [to close the branch] and it just shows that they care, which is really good."

The business was set to be significantly hit by the closure, and would have had to transport significant amounts of cash out of town if the 2023 closure had proceeded as planned.

"We're not about to tell all our customers they can't cash... because when you're a business, you make it easy for people to buy," Mr Druce said.

Junee mayor Neil Smith also praised the decision, hailing it "fantastic" news.

"It really flies in the face of the NAB announcement for closures at Gundagai and Temora [this week]," Cr Smith said.

NAB is set to close its Lake Cargelligo branch next month, with the Gundagai and Temora branches to close in September.

"Maybe I'm a bit naive, but I'd like to think that maybe the Commonwealth Bank is growing a conscience," Cr Smith said.

The move was welcomed by the member for Riverina Michael McCormack, who said CBA was "doing its duty as a responsible corporate citizen".

"I commend the Commonwealth Bank for its decision to keep regional branches open until at least the end of 2026, which shows respect to those who call the Riverina and Central West home," Mr \McCormack said.

"I appreciate that it is not a guarantee of banks staying open but it is a commitment to the regions.

"I encourage all banks with a regional footprint to follow this lead to ensure our smaller communities are reassured in what are challenging times for all Australians."

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