Kurow community groups, still smarting from the news that there will be no bank in town from next Friday, said they have no option but to hope a white knight will save the day.
Following the announcement on Thursday the ANZ National Bank will close its Kurow premises on July 13, after the building was deemed below earthquake safety standards, business and community groups said there was little that could be done to stop the bank pulling out.
Waitaki District Council Ahuriri Ward councillor Craig Dawson had spoken to an ANZ National Bank representative and the company's position had been made quite clear.
Mr Dawson added community groups would now lobby local MP Jacqui Dean and would also look at approaching other banks to fill the void left by the imminent closure of the township's only bank.
"It is a huge shame. Here we are trying to build the valley and planning the Kurow town upgrade, and they pull that.
"We have got to get together as a community board and see if we can generate something."
However, Cr Dawson said the community faced a "very hard" task in convincing the banking sector to change.
An ongoing seven-year effort to encourage "the two big banks" (ANZ and Westpac) to install a cash machine at Omarama had previously failed to interest either bank, he said.
"They really hold all the cards and small areas like us suffer. But I would suggest if a new bank did start in the area, they would get a lot of new customers.
"It is very difficult to actually change a commercial entity's perception on these things. If it was a government organisation or local government you could lobby and that sort of thing, and perhaps bring about change, but the only thing I could do is perhaps ask would Kiwibank or someone like that wish to come into the area, because there is good business there.
"There a lot of farmers and lot of businesses that operate using a lot of cash. Surely, it is a commercially viable thing."
Upper Waitaki Community Trust chairman Calum Reid also said he felt the area could prove profitable for another bank.
"Rural areas like Kurow really are the bread basket of the New Zealand economy. All we can do is hope one of the other branded banks take over."
