WHILE Newcastle Permanent is planning to close its branch in Medowie causing angst amongst the community they have just been named amongst the World’s Best Banks.

The Perm as locals know the bank was named as the top Australian-owned financial institution and second overall in Australia by over 43,000 customers surveyed globally by the Forbes annual ranking.

Newcastle Permanent CEO, Bernadette Inglis, welcomed the result, saying it shows the Hunter-led organisation has continued to focus on delivering the best banking services for customers and communities across its regional NSW footprint despite the challenges of the last year.

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“This is an incredible testament to the commitment of our people at Newcastle Permanent over the last 12 months through fires, floods and a pandemic to support our customers and our local communities.”

“Newcastle Permanent is honoured to have been named in the Forbes World’s Best Banks in Australia and to also be the top customer-owned mutual bank in the country,” Ms Inglis said.

At 118 years old, Newcastle Permanent supports over a quarter of a million customers across regional and rural NSW, Sydney, interstate and overseas.

“Our own customer satisfaction surveys regularly indicate our customers are highly satisfied with our service, however to be recognised so positively through this international award program alongside other major and mutual banks is quite a remarkable achievement for both Newcastle Permanent and for the Hunter region,” said CEO Bernadette Inglis.

The Forbes ‘World’s Best Banks’ survey acknowledges Newcastle Permanent’s performance in the eyes of customers against a range of considerations, including general satisfaction, trust, fees, digital services and financial advice.

“Like many organisations, the needs of our customers have changed over the last year.

“At Newcastle Permanent we’re continually striving to introduce the banking services and innovative new technologies our customers want today, and will need tomorrow, so that we can reach our goal of becoming Australia’s favourite banking experience,” Ms Inglis said.

Meanwhile the Newcastle Permanent is about to close in Medowie leaving locals with only online services.

A representative from the Newcastle Permanent has confirmed to News Of The Area that they plan to maintain an ATM in Medowie.

At this time the Newcastle Permanent is looking for a suitable location for the ATM.

This will enable residents to use a fee free ATM in Medowie depending on their bank.

Local Melissa Gole told News Of The Area, “I’m concerned about the loss of the Medowie bank because we are about to have two new over 55 villages, I work in aged care, and we have a lot of older people who still operate on cash.”

Brooke Vitnell, a local business operator in Medowie said, “I believe this is a step backwards for Medowie.”

Medowie has between 11,000 and 15,000 people living locally all of whom will have to travel over 30 minutes each way to access face to face banking when the branch closes.

By Marian SAMPSON