Bryan Cadogan sought ideas from the public at a meeting on Tuesday night on how to respond to the proposal to shut down the local ANZ branch.
People at the meeting said they felt betrayed or ignored by ANZ and asked Mr Cadogan and the council to consider approaching another bank to take its place.
Mr Cadogan said yesterday he would be contacting at least one other banking provider to ask whether it would be interested in setting up in Milton.
''You could have a facility such as a cafe or a shop nearby [in the same building], so we're looking into that,'' Mr Cadogan said.
It was clear the community needed a bank and it was almost inevitable the branch was going to close, he said.
He was also considering asking members of central government whether there was anything which could be done from a ''legislative position''.
Some at the public meeting asked the Government to take a more proactive or direct approach to stop the closure of the bank.
Mr Cadogan said he did not want ''to go beating drums that have no end'' unless there was a benefit to his ''or the wider community of New Zealand''.
''There's a lot of things rattling around in my head.''
