Ballina’s banking sector has officially entered a new era, with National Australia Bank unveiling its completely rebuilt River Street branch following a multi-million-dollar transformation.

Customers, business leaders and staff gathered for the official opening on Thursday night, with many remarking on how dramatically banking has changed from the days of bars and grills separating customers from tellers.

The new NAB Ballina Hub features bright open spaces, customer meeting rooms, digital self-service facilities and a 24-hour banking lobby, replacing the more traditional branch layout many locals had known for decades.

NAB has invested more than $2.3 million into the refurbishment, which involved gutting and rebuilding the long-standing branch over several months.

The branch houses more than 20 staff, making it one of NAB’s largest operations on the North Coast.

Ballina Chamber of Commerce President Joeline Paskins said the investment was another sign of Ballina’s growing economic strength.

The bright new NAB branch on River Street – Main image (L to R) Tayla Jackson, Lynley and Adrian Katschke with branch manger Sonia Hare

Brittinie Jackson, Joeline Paskins and Boyd Hughes

Long-time customers Adrian and Taylor Katschke, from Tintenbar, said they had banked with NAB in Ballina for more than 30 years and appreciated the branch’s strong community feel.

But with interest rates again dominating national headlines this week, the couple said the issue was creating difficult conversations for many Australian families.

Mr Katschke described the situation facing many self-funded retirees as a “Catch-22”.

“For us, higher interest rates are good news,” he said.

“But for our daughter trying to finance a home, it’s hugely stressful.”

He said many families were now caught between wanting better returns on savings while also worrying about younger generations struggling with mortgages and bridging finance.

“And as for the Bank of Mum and Dad, unfortunately our interest rates never change,” he joked.

Mr Katschke also said it was encouraging to see a major bank continuing to invest in a regional community at a time when many smaller towns were losing branches altogether.

Laura Salkeld, Tim Hargraves and Jake Smith