Media releases

ANZ has also announced what looks like a minor change in regional NSW, but which may signal the end of the local Bank Branch Manager. The jobs lost due to this change is projected at three, which represents a clear breach of ANZ Bank’s commitment to the Treasurer to have no net job losses in regional Australia (made as part of conditions around the takeover of Suncorp Bank).

Finance Sector Union National President Wendy Streets said:

“The closure of two more branches by ANZ and their breach of a commitment with the Treasurer of Australia is a gross act of disrespect from a company earning record profits. While they’ve tried to spin that these bank closures are a response to customer choice, we know it has been driven by nothing other than a desire to make even more profits.

“Australians rely on local bank branches and no amount of corporate spin from banks can deny that fact. Removing branches from local communities is a shameful act of betrayal by big businesses who care about their profit more than they care about delivering the local services banks used to be proud to provide to their customers.

“There are 14 hard working staff in those two branches, none of whom are guaranteed future roles at the Bank. At a time when household budgets are under pressure, ANZ Bank are showing a heartless disregard for the welfare of their people.

“ANZ have also advised us of a new ‘Regional Hub Model’ of management for bank branches across regional NSW. Essentially the branches at Coffs Harbour, Grafton, Narrabri, Inverell, and Armidale will no longer have their own branch manager. Instead, those branches will share a lesser number of managers. It looks very much like a way to cut senior staff and reduce the seniority of management in local branches – a dangerous development and one that clearly breaches the commitment ANZ made with the Treasurer when they were granted the right to buy Suncorp Bank’s business.

“These disrespectful actions of the ANZ Bank are shameful, but sadly not surprising. ANZ have been cutting branches and staff for years, making more profit as communities and staff suffer.

“We call on ANZ to reverse their branch closures like they reversed the decision last year to close the Portland Branch. Regional communities are used to fighting for their local branches, but we fear banks are focusing on suburban branch closures to avoid media and community scrutiny. Only a strong backlash from members of the Brimbank and Doncaster communities can save these branches.

“Banks are only able to slash branches and ATMs at will due to the lack of any regulations. It has been almost 9 months since Assistant Treasurer Stephen Jones received a Senate Inquiry Report into rural banking. He has stayed silent and done nothing to indicate that protecting Australians’ access to banking is a priority.

“We call on Treasurer Jim Chalmers to take action. He must say that enough is enough especially as his own agreement with ANZ is being breached. Banks should no longer have free rein to deny banking services to rural, regional and suburban customers. The Treasurer should immediately commit to implementing the recommendations of the Senate inquiry, the first of which is to ’commit to guaranteeing reasonable access to cash and financial services for all Australians’.

“The Finance Sector Union believes there needs to be minimum standards introduced to ensure that all Australians have access to choice in basic banking services. The absence of minimum standards allows banks to cut services on a whim with no regard to local needs or preferences.”

Media contact: David Imber – 0413 274 204