The Commonwealth Bank is set to end a near 60-year association with Millicent. The doors of its George Street branch were closed in July due to falling demand for face-to-face services.
The bank has now placed the vacant two-storied premises on the open market. It is listed for sale with South East Property Sales and Management for $320,000. At the time of the closure, it was headed by manager Darren Archibald and three parttime employees.
The purpose-built bank was constructed by prominent Millicent building firm Zanello and Buffon Pty. Ltd. and opened with a staff of five in November 1961. It once had as many as 14 employees and its past managers included Ron Coventry, Tony Bitter and Hazel Rigby.
Unlike the three other financial institutions in Millicent, the Commonwealth Bank was the only one to own the freehold. It has been a momentous few months for banking services in Millicent.
The Millicent branch of the ANZ bank was closed for almost a fortnight in November as it awaited repairs due to storm-related structural damage. Earlier in the year, face-to-face banking services were cut at the ANZ Bank in Millicent to only 15 hours-per-week.
Over the past 30 years, the ANZ has closed its Penola and Lucindale branches and its Beachport agency as well as sold houses for employees in Millicent. Meanwhile, Millicent’s two other financial institutions also wound back their services in 2020.
The People’s Choice Credit Union no longer trades on Saturday mornings, while BankSA withdrew its Millicent manager while cutting its weekly trading hours by five.