Media releases

THE BRANCH BEING CLOSED IS IN EMERALD, VICTORIA.

The National Australia Bank’s decision to shut down five more bank branches puts it at odds with the Senate Inquiry into Regional Bank Closures and fails to take account of community concern about branch closures.

NAB has notified the Finance Sector Union (FSU) it will close branches at Tuggeranong, ACT; Scone, NSW; Emerald, Vic; Runaway Bay, QLD and; Balmain, NSW.

FSU National Secretary Julia Angrisano said the NAB was out of step with its major competitor banks by refusing to stop closing regional branches while the Senate’s inquiry is being conducted.

“Closing these banks is a betrayal of the community and staff in these areas and will make banking harder for older people, businesses and anyone who needs to speak to a banker face to face,” Ms Angrisano said.

“These announcements could not come at a worse time with the holiday season around the corner and cost of living pressures already taking a significant toll on our members.”

“It is a disgrace that NAB continues to aggressively pursue its branch closure strategy without genuine community engagement or employee consultation.”

“After delivering an annual profit of $7.7 billion, NAB is still using branch closures to cut costs and boost profits. The bank could easily invest in these communities who rely on branches to meet their banking needs instead of shut them down.”

“The CBA has seen the growth potential in keeping branches open and maintaining its branch network and the NAB should follow suit.”

“NAB needs to wake up to the real needs of customers, save the jobs of bank workers and keep these branches open.”

Media contact: John Hill- 0412 197 079