People’s First Bank shuts only NT branch at Gateway Shopping Centre

People First Bank is permanently closing its only Northern Territory branch as part of a major national downsize not long after launching its brand.

People First Bank's only NT branch – in Gateway Shopping Centre, Palmerston – will shut in April after the bank decided to cut 18 of its branches across the country. Picture: Supplied.

People First Bank is permanently closing its only Northern Territory branch as part of a major national downsize not long after launching its brand.

Australia’s largest mutual bank is slashing 20 per cent of its branches and almost 100 jobs from April 4 this year – including its branch in Palmerston’s Gateway Shopping Centre.

The bank said it made the decision in response to changing customer needs and increased preference for online banking, but the union says its hurting workers, regional communities, and vulnerable Australians who rely on in-person banking.

Finance Sector Union national assistant secretary Jason Hall. Picture: Supplied.

“It 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,” Finance Sector Union assistant secretary Jason Hall said.

“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.”

The FSU called for national minimum standards to be introduced to ensure regional and remote Australians’ access to basic banking services.

People First’s chief customer officer Maria-Ann Camilleri said fewer than 0.7 per cent of customers associated with the 18 closing branches had used a branch monthly in the past year.

“We know the important role branches play in local communities, so these decisions are only made after much careful consideration,” she said.

“Increasingly, our customers are choosing ATMs, internet banking and our app for their day-to-day banking, with branch use now accounting for less than one per cent of all transactions.

“While these decisions are challenging, we need to prioritise the services our customers use most.

“This means reallocating people and resources to higher-demand areas, such as our 24/7 contact centre, and investing in technology to meet customers’ need for simple, convenient digital banking.

“We will support everyone affected with care and understanding.”

Of People First’s 88 current branches, 56 are Heritage-branded and 32 People’s Choice.

The two banks merged in March 2023 to form the largest customer owned bank in the country.

Along with the NT closure, People’s First is shutting 11 Queensland branches, four in South Australia, and two in Victoria.

Originally published as People’s First Bank shuts only NT branch at Gateway Shopping Centre