What happens when a town loses its last bank?

Updated June 14, 2018 20:30:08

Photo: The National Australia Bank branch in Boort opened in 1880 and survived almost 140 years. (ABC News: Lauren Day) Related Story: ‘We’re struggling as it is’: Regional banks closing their doors Related Story: ANZ and NAB to close their doors in eight more NSW towns

There are arguably just two essential services in a small town — a bank and a pub.

And when the former closed in the tiny Victorian town of Boort, it was the talk of the latter.

“It’s not helping the town’s future,” local Ian Allison told 7.30 over a schooner.

“People go away to do their shopping and banking and all that sort of stuff, and a little town dies.”

‘Once you lose businesses, you never get them back’

Last week, after nearly 140 years, the National Australia Bank (NAB) closed its Boort branch for the final time.

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