Media releases

The major banks have been ruthlessly closing branches in metropolitan and regional areas, with the Big Four shutting more than 1400 branches in recent years.

FSU National President Wendy Streets said the FSU is calling on Mr Jones to protect Australia’s banking system by declaring banking an essential service, instigate an industry code and compel banks to provide a genuine rationale for closing branches.

“Declaring banks an essential service would also include community service obligations, especially in remote and regional Australia,” Ms Streets said.

“The banks have disadvantaged thousands of customers by seeking to push them into digital banking instead of using branches.”

“Finance workers have also borne the brunt of the banks’ push for more profits.”

“We believe the banks should be required to conduct community impact assessment to expose the real impact of closing a branch.”

The FSU is seeking intervention from Minister Stephen Jones to save bank branches and hold the banks accountable.

“Bankwest ruthlessly dumped its branch network without consulting customers all in the name of generating greater profits.”

“It’s time to stop this relentless slashing of branches and jobs.”

“The banks have failed their staff and customers by cutting deep into their branch network to reduce costs.”

“The Senate Inquiry into regional branch closures has revealed the impact of the banks deserting regional areas.”

“After more than twelve months of hearings and hundreds of submissions, we are calling on the Minister to take positive steps to stop the steady reduction of banks being available to regional customers.”

“We are urging people who want to save their bank branches to sign our petition to Financial Services Minister Stephen Jones to send him a strong message that enough is enough and he must take action before it’s too late.”

The FSU petition can be found here: https://fsu.org.au/SaveOurLocalBanks

Media contact John Hill 0412 197 079