Business & Rural
13 August, 2025
Bank shuts agency network
BENDIGO Bank will close its St Arnaud agency from October.
BENDIGO Bank will close its St Arnaud agency from October.
The announcement yesterday afternoon followed weeks of speculation that the bank would ditch its agency model and comes after a further 10 branch closures were confirmed earlier this month.
The bank said the St Arnaud agency would serve its last customers on October 17.
Avoca District Co-operative Limited, a franchisee of Bendigo Bank, operates the locally-owned Community Bank Avoca, Maryborough and St Arnaud with St Arnaud believed to be one of 26 agencies left after a swathe of closures two years ago.
“Following a review of evolving customer preferences, a reduction in business activity and an increase in costs and compliance obligations, Bendigo Bank’s agency model will be retired,” a spokesman told NCN and Loddon Herald yesterday afternoon.
“As a result, several Bendigo Bank agencies will be closing permanently.
The bank is in the process of communicating this change to customers and apologises for any inconvenience,” the spokesman said.
Established more than 30 years ago, Bendigo Bank said its agency network had enabled the Bank to offer limited banking services through “third party businesses in areas where there was not enough demand to sustain a branch”.
The decision to close agencies was made by bank head office. Wedderburn and Boort agencies will also close.