News

Regional banking shock

by
March 06, 2018

National Australia Bank is closing more branches and reducing the trading hours of regional branches in Victoria and NSW.

Last week, NAB announced seven regional branches or agencies would be closing including Euroa, Boort and Barham in Victoria.

‘‘Banking is an essential service, especially in regional communities and customers rely on their bank having a branch that they can access,’’ Finance Sector Union national secretary Julia Angrisano said.

Instead of closing branches, the 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.

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,’’ Ms Angrisano said.

In the past 18 months, NAB has closed more than 50 branches, predominantly in regional communities.

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