In a move that calls into question their own barely launched brand, People First Bank are putting customers, communities and staff last by shamefully slashing 18 branches and almost 100 jobs.
People First Bank is the result of a merger between People’s Choice Credit Union and Heritage Bank.
The Bank has announced to staff and the Finance Sector Union the closure of 11 Heritage Bank branches, all in Queensland, and 7 People’s Choice branches across Queensland, South Australia, Northern Territory and Victoria, effective at 4pm Friday 4 April 2025.
Finance Sector Union (FSU) National Assistant Secretary Jason Hall said:
“While these aren’t the first branch cuts of 2025, they are the largest. It also really plumbs the depths of irony for a Bank calling itself People First to start their new brand by slashing branches and staff, putting last the people they claim to put first.
“These closures hit hardest in Queensland with 11 bank closures which comes only weeks after reducing the hours of operation of four branches in the Toowoomba region. They’re also an attack on regional communities with 5 regional branches closing including in Australia’s oldest mainland town of Gawler (South Australia) as well as Victor Harbor (South Australia), Warrnambool (Vic), Maryvale (VIC) and Noosa (Qld).
“People First are acting like a big corporation and not a member owned bank. These actions are a devastating abandonment of the 700,000 members they claim to be dedicated to. What a fraud to say they are ‘making banking brilliant and building a brighter world for all’ when they try and sneak out such savage cuts as families are focused on getting their kids back to school.
“Workers have every right to be concerned about these massive branch closures. Our members have told us they are incredibly nervous about what this means for them in the future, as the bank has been bleeding staff in recent months. It isn’t fair that workers are always the ones who bear the brunt of the bank’s poor decisions.
“The closure of Beenleigh is another blow for the constituents in Jim Chalmer’s nearby Federal Electorate of Rankin as BOQ recently announced the closure of Springwood and Logan Central branches which will close in February.
“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.
“Banks are only able to slash branches 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.
“The people of Gawler, Victor Harbor, Warrnambool, Maryvale and Noosa have the right to feel ripped off by bank closures that shouldn’t be allowed to happen. It’s past time for Treasurer Jim Chalmers to take action and implement the recommendations of the Senate Inquiry.
“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 removal of branches and ATMs are designed to boost profits while reducing services. The absence of minimum standards allows banks to cut services on a whim with no regard to local needs or preferences.”
Heritage Bank branded branches (all in Queensland)
People’s Choice branded branches
Other branches closed since merger
Media contact: David Imber – 0413 274 204
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