Coromandel Member of Parliament, Scott Simpson, says that Kiwibank’s decision to close its branch in Waihi confirms that the “people’s bank” is no more.

‘Kiwibank was created as an alternative to foreign commercial banks.  Its brand was that it was owned and run by New Zealanders.  There is no mistaking that today’s decision puts pay to that once and for all.'

‘There was a period for public consultation, but this was little more than rubber-stamping a pre-determined decision.  The Waihi branch will close 4 June 2021.’

‘Despite Kiwibank’s efforts to help customers transition to digital banking, I’m not satisfied that this will be successful.  Customers have already had adequate time to be online but those that haven’t taken up that option simply prefer to do their banking in person.’

‘This decision removes their ability to choose how they manage their finances.’  

‘The Waihi community will be rightfully disappointed in this decision and flawed consultation process.’

‘It’s another blow to rural and provincial communities and something that big corporates are doing at pace.’