Austerity measures at branches

Now ÖVP party youth are taking on Raiffeisen

The gable cross in every town? That was once upon a time! Raiffeisenbank Traisen-Gölsental is saving seven branches.(Bild: Scharinger Daniel)

"We say no!" - The black party youth in Lower Austria has reacted strongly to an announced wave of Raika branch closures. The group wants to close a total of seven banks in the districts of St. Pölten and Lilienfeld. This would also mean the loss of jobs and apprenticeships, it is said.

As the saying goes, every village in Lower Austria has a church, a pub and a Raika. However, the restaurant trade is also visibly dying off - and the banks are also being slashed one after the other. The Raiffeisen Group caused quite a stir when it announced its intention to close seven branches in the St. Pölten area and especially in the district of Lilienfeld.

Savings course is glossed over
In the financial group's PR speak, however, this reads differently: they are looking forward to "expanding the personal advice and service offer in the three competence centers". This is another way of glossing over a savings plan that particularly affects small towns in rural areas. Of course, this means that small branches will be closed and customers will often have to travel long distances to speak to a "real" bank advisor.

Banks must remain in the communities. I therefore call on those responsible at Raiffeisen: Rethink this extreme decision!

Andreas Steinacher, Bezirksobmann der JVP Lilienfeld

Bild: JVP NÖ

Mayors criticize
The mayors of the affected municipalities were quick to criticize the major closure. They spoke of a "slap in the face" and "bottomless insolence". Older people in particular were being left in the lurch by Raiffeisenbank Traisen-Gölsental, they said. Because the distance to the nearest ATM will be even longer with the branch closures.

Appeal to the Supervisory Board
But young people are not sparing with their strong reactions either - the ÖVP party youth in the district of Lilienfeld is now also publicly saying "no" to the plans. What's more, they are calling on the Management Board and Supervisory Board to reconsider this momentous decision. "After all, it's also about jobs and apprenticeships for the next generation in our district," says Lilienfeld JVP chairman Andreas Steinacher.

Closure as a "wake-up call"
"Especially for the younger generation, who are faced with important financial decisions such as financing their first home, qualified advisory services are indispensable," says JVP regional chairman Sebastian Stark on the matter. The closure of the bank branches should be seen as a wake-up call to actively shape the digital transformation in the financial sector and ensure that all citizens - regardless of their age or affinity for technology - continue to have access to financial services, he says.

JVP regional managing director Anthony Grünsteidl is more conciliatory: "The future lies in digital offerings such as service desks for video consultations or online meetings with bank advisors, which offer citizens both convenience and comprehensive service." The aim is to make financial advice accessible and up-to-date in order to meet the needs of all generations.