General news

FSU members have been campaigning for years to force banks to keep regional branches open. We all know that when regional branches close, local communities suffer. And for many customers, there is no replacement for face-to-face support. 

In a statement, Westpac CEO Anthony Miller said: 

“We recognise we haven’t always got it right. This is about listening to customer and community feedback and reassessing how we provide services to regional communities.” 

We welcome this admission – hundreds of thousands of jobs have been lost and local communities abandoned over the years, despite banks posting billions of dollars in profits. 

This announcement follows our union’s previous success in preventing Westpac from closing other regional branches in 2023, as well as forcing the bank to extend its moratorium on regional branch closures until at least 2027. 

The FSU is writing to Westpac to seek clarification on various issues, including timeframes for these new regional centres, whether there are plans to open more, and what implications these centres will have on existing Westpac employees. 

Time for all banks to step up 

We’re calling on all banks to follow Westpac’s lead and reopen branches in local communities. 

Regional bank branches provide an essential service for many customers, including vulnerable people and those without access to internet banking.  

They are the lifeblood of so many communities – and for many, you cannot put a price on not having regional bank branches. 

We have long called on the federal government to deliver the recommendations of the report from the Senate Inquiry into Bank Closures. 

While we do welcome the government’s commitment to introduce a cash mandate, more needs to be done. 

Congratulations to FSU members who have kept the importance of regional banking an issue for banks, politicians and in the media. Without this pressure, Westpac would not have made this promising decision.