The people of Taroom are calling on Bendigo Bank to reverse its decision to close the town’s only bank, leaving this tight-knit rural community without access to cash and critical banking services.

Taroom, located in Queensland’s Banana Shire Council Local Government Area (LGA), has a population of just under 900 and is supported by primary industries including grazing, cropping and small business. It’s also home to a strong and self-reliant community that has worked hard to attract services and build local infrastructure including welcoming Bendigo Bank when it first opened in the town in 2016.

Now, the bank is set to abandon Taroom, despite its proud position as “a bank for the community” and its recent national campaigns claiming to be “Bigger for you” and urging Australians to “Switch and be the change.”

Mayor of Banana Shire, Nev Ferrier, says the closure will have a serious impact on the town’s social and economic life.

“Cash is a very important commodity for our town. The pub needs it to trade, so do rodeos, horse races, our local show and Christmas carnivals. Community groups rely on it too,” he said.
The decision also raises questions about equity and accessibility. The nearest banking branches are in Chinchilla (173 km away) and Roma (167 km) which is a round trip of up to six hours for residents, many of whom are elderly or run time-poor farms and businesses.

“When Bendigo Bank first arrived in Taroom, the community welcomed them with open arms. Now, they’re deserting us.”
Local events such as campdrafts, races and rodeos form the lifeblood of this region, drawing hundreds of visitors and fueling the local economy who rely on cash infrastructure, EFTPOS floats, and community fundraising that simply cannot be supported by remote or digital-only banking models.
Bendigo Bank promotes itself as a purpose-driven institution “digital by design, human when it matters.” Now, more than ever, it matters.

In its 2024 Investor Day presentation, Bendigo Bank outlined a clear commitment to customer-first values and a strategy to grow its agribusiness presence across regional Australia. The decision to close the Taroom branch, located in a thriving grazing and farming community, appears to directly contradict that direction.

“We’re not asking for special treatment,” said Mayor Ferrier. “We’re asking for fair access. No one should have to drive over 200 kilometers round trip to withdraw cash or do their basic banking.”

“We are calling on Bendigo Bank to live up to its promise and put people before profits,” he said. “If they truly believe in being a bank for the community, they need to prove it.”