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FSU Success Stopping Branch Closures in Drought Affected Areas

Some Encouraging News for Workers and Communities

The Finance Sector Union has secured an important win for drought affected communities.

Last month we wrote to each of the big four banks asking them to suspend any branch closures in drought affected areas.  We also wrote to relevant State and Federal Ministers alerting them to this.

Today, National Australia Bank has indicated they will not close branches during the drought. This comes two weeks after the NSW Opposition Leader, Luke Foley,  helped secure an undertaking that the Dungog NAB branch would not be closed.

Today’s confirmation that NAB will not close branches during the drought is good news, and is a small step in the right direction for a bank that has been mauled in the Royal Commission.  

In another step in the right direction, the Commonwealth Bank of Australia has also said they will take the drought into account and “ … will limit our review of branches during this financial year”. 

The Finance Sector Union is meeting with ANZ executives next week to discuss their response to the drought.  No response has been received from Westpac at the time of writing.

Banking is an essential service, and many rural communities rely heavily on the presence of a local branch.  Australia’s banks were underwritten by Australian taxpayers during the Global Financial Crisis; it’s time for banks to step up and do the right thing by drought affected communities.

Authorised By: Julia Angrisano, National Secretary
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