For years, banks have continued to ruthlessly close branch after branch in droves, particularly in regional Australia. The big four banks alone have closed over 1400 branches.
Hundreds and thousands of vital jobs have been lost and local communities abandoned. Elderly customers have stood outside branches with no access to vital banking services and not knowing how to access their cash.
Power-hungry banks have continued to rake in billions of dollars in profit while forcing frontline staff to transition customers onto digital banking, eroding their own job security.
And recently, Bankwest viciously slashed its entire branch network in Western Australia in one fell swoop, devastating an entire community.
Enough is enough.
Our union has successfully saved individual branches, but we need an industry-wide solution to an industry-wide problem. It’s past time for the Federal Government to step in, back our finance workers and the communities they serve, and act on the revelations from the Senate Inquiry.
We are calling on Federal Financial Services Minister Stephen Jones to take immediate action to address the closure of bank branches and safeguard the interests of finance workers and communities.
Sign our petition to the Financial Services Minister
The Financial Services Minister must:
- Declare banking as an essential service.
- Instigate an industry code for branch closures to compel banks to provide a genuine rationale for closing a branch.
- Impose community service obligations in regional and remote Australia.
- Require banks conduct community impact assessments to understand the potential effect of a branch closure.
The FSU and our members have been relentlessly speaking out and fighting back against these extreme closures for a long time. It’s past time for our government to stand by us, take action and hold banks to account – sign our petitionand tell the Financial Services Minister, it’s time to save our local bank branches.