NAB is aggressively closing branches or reducing the trading hours of regional branches in NSW and Victoria.
Last week the NAB announced seven regional branches or agencies would be closing including Euroa VIC; Boort VIC; Barham NSW; Culcairn NSW; Grenfell NSW; Ardlethan NSW and Lockhart NSW.
NAB is directing customers to branches in nearby towns.
In the last 18 months NAB has closed over 50 branches, predominantly in regional communities.
“Banking is an essential service, especially in regional communities – and customers rely on their bank having a branch that they can access,” said Finance Sector Union National Secretary Julia Angrisano.
“When a branch in an area like this closes, it hurts workers in areas where jobs are scarce, as well as the local community and its economy,” Ms Angrisano said.
Instead of closing branches, the Finance Sector Union is calling on NAB to properly consult with its workers and communities about the future of its branch network before making decisions to abandon communities.
“Banks have an obligation to the communities that support them. NAB is aggressively closing some branches and reducing the operating hours of others at the same time that it’s reporting $6.64 billion in profits.”
“Our concern is that NAB appears to care more about profits than people.”
Ms Angrisano said the ABA Branch Closures Protocol did not go far enough.
“The ABA Protocol should require banks to consult with local communities when deciding on the future of their branch networks. In most cases, no community consultation has been carried out prior to the branch closure announcement,” Ms Angrisano said.
“A key point is that a bank closing a branch should ensure that ongoing face to face access to its services is locally available.”
While it is busy shutting branches, NAB’s workers generated substantial profits:
2017 – $6.64 billion
2016 – $6.48 billion
2015 – $5.84 billion
NAB is slashing 6000 jobs over the next 3 years. This represents approximately one-fifth of their workforce.
The Australian Bankers’ Association (ABA) Branch Closures Protocol (link below) does not go far enough.
Media comment: (National) Julia Angrisano 0418994418; (Vic) Darren Martin 0409029822 (NSW) Rebecca Reilly 0434169433
Media contact: John Hill 0412197079