29 September 1999
Green Party Enterprise and Employment spokesperson Sue Bradford has welcomed WestpacTrust's joint venture with NZ Post
to provide some banking services to areas where there is no WestpacTrust branch.
"However the trials are all happening in Christchurch, Wellington and Auckland which doesn't help the rural people who
are crying out for the most basic of banking services," Sue Bradford said. She believes the Green policy of having full
New Zealand-owned regional banking services throughout the country is vital in serving rural New Zealanders and for
giving a much needed boost to the national and regional economies.
"It's positive that WestpacTrust are trying to expand into areas where they are not represented, but trialling in
Auckland and Wellington does nothing to address the damage that has been done to regional New Zealand through multiple
bank closures. And they are charging steeply for the most basic banking services," she said.
The Green Party policy is to develop a nationwide network of Kiwi-owned community banks, based on the Bendigo Bank model
in Australia.
"Such a network would restore the full banking service that has been taken from regional New Zealand to maximise profit
for offshore owners," Sue Bradford said.
"It would also go a long way towards repairing regional economies through keeping people's money working in the area."
Sue Bradford