Banks have closed 147 branches in NSW/ACT in last two years

Australia has seen a large drain of bank branches from the regions and many bank employees, with the FSU estimating 400 branches have closed and 3000 bank employees have lost their jobs in the last two years in Australia.

Australian Community Media has obtained statistics that show between January in 2020 and January this year, more than 30 bank branches have closed in country NSW, with nearly half of those ANZ branches.

In total, 147 bank branches have closed in NSW/ACT in this period.

Towns among those branch losses were Blayney and Molong, while more boradly Cooma, Dorrigo, Wee Waa, Albury, Ballina, Mittagong and Guyra are all impacted too.

FSU national secretary Julia Angrisano said in response to questions from Australian Community Media that she feared the banking taskforce would not change the situation of branch closures.

"The Taskforce is largely a stunt," she said.

"The FSU estimate that 3000 jobs have been lost in the past two years and over 400 branches have been closed.

"If the taskforce had a genuine commitment to change and consultation, then its membership would include community groups that represent workers, consumers, and groups like the aged. Instead, the taskforce membership consists of just employers and this is becoming an all too familiar practice of this government.

She said a good question to ask Taskforce co-chairs was why these groups are excluded.

"Why is the Taskforce a business echo chamber. This isn't a wild union accusation, it's a fact. I wrote to the co-chairs requesting that taskforce membership for the FSU and the government point blank said 'no'," Ms Angrisano said.

So far the Taskforce has visited Orange in NSW and Mildura in Victoria and Ms Angrisano said they would soon be drafting and releasing their report.

"They've made only two visits, how can they deliver a report with any depth on the basis of two regional visits? It's an insult to regional communities everywhere," she said.

The Regional Banking Taskforce co-chairs are the Assistant Treasurer, Minister for Housing and Minister for Homelessness Social and Community Housing, Michael Sukkar, and Senator Perin Davey. Australian Community Media has asked Senator Davey's office for a comment.

The taskforce accepted public submissions last year.

"Insights from the submissions will help the Taskforce better understand the impacts of branch closures and how Australians are accessing banking services. They will also help improve banking services and accessibility where branches have closed," the government said.

The FSU says that if the taskforce does report back, it would like mandatory community impact assessments completed on all slated closures.

"We would like to see statutory rights given to citizens that guarantees access to banking services. One issue that I am looking forward to seeing if it is covered is the mass migration that we are seeing from the metro areas to the regions," Ms Angrisano said.

"A lot of people who are re-locating will require banking and financial services as will the businesses they take with them or develop. I imagine a number of these people are used to having easy access to banking and financial services. They might be in for quite a shock.

"There needs to be a better assessment of community needs before a branch is closed. The Australian Banking Association (ABA) have this long protocol on bank closures that is full of flowery inclusive language but it hasn't kept one branch slated for closure open.

Ultimately Ms Angrisano said while banks like to say customers can do banking at their local post office, this didn't offer the full suite of banking services.

"Banks should be encouraged to develop shared service Hubs with other each other," she said.

Many regional bank employees have not found work since being laid off.

"We conducted a survey of regional members and the majority said that they would struggle to find new jobs in their community if their branch closed. The majority of front-line retail banking staff are women which means that the job losses due to branch closures disproportionately impacts them," Ms Angrisano said.

Member for Calare Andrew Gee has previously criticised the big banks for shutting up shop across regional NSW.

"Too often, over the last couple of years, Australia's big banks have put super profits ahead of their long-standing and loyal country customers," Mr Gee said in a statement last week following news ANZ Bank plans to reopen its branch in Lithgow.

"Our regional communities deserve better than this, so I am very pleased that the ANZ has committed to opening the doors again soon."

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