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Wednesday
Nov212018

Kiwibank Kicks Thames In The Butt!

Stuff reports today that Kiwibank intends to close down the Thames and Whitianga Kiwibanks, and Postbanks after negotiating for other businesses to establish 'agencies. In the case of Thames, these will probably be the 'Four Square,' or a nearby 'Two-Dollar' emporium. Happy days!

This devastating news came 'out of blue' - there has been no indication to my knowledge of such a move until today. Residents of both towns will be shocked, and wondering just what it takes to maintain these services - particularly clients of Kiwibank which has done so much recently to encourage new custom.

Whitianga will have its collective nose right out of joint being so proud of its recent town centre re-development, and particularly in view of its projected growth.

Thames residents will be in despair as so much effoirt (Thames Business Association!) has been made recently to revitalise the town. The vacant shops do tell another story of course, and I guess rationalisation of bank activity is inevitable in view of what has happened elsewhere. 

The HH will carry the story on Friday, and I guess the reaction will set in next week. I wonder just what out Council will be prepared to do to lead a strong case for reconsideration of the decision.

[Read here of the reported disharmomny on the Kiwibank Board - its Chair Jane Taylor has resigned!. And it looks like a major legal stoush is on the way between previous owner - NZ Post Ltd, and the NZ Super Fund and ACC who paid $492m for the place, followed by huge losses resulting from the failure of a major IT upgrade.  Where have we heard that before?]

 

 

 

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