‘Profits before people’: Regional Westpac branches to close in Vic, NSW

Westpac has announced it will close eight bank branches across regional Victoria and NSW. The move has been described as a “kick in the guts”.

Westpac has come under fire for putting “profits before people” after the company confirmed today it would close eight bank branches across regional Victoria and NSW.

The regional branches are just some of more than two dozen closures across the country, a Westpac spokesman said.

Morwell, which has a growing population of about 14,000 people, was one of four closures announced in regional Victoria.

Branches in Colac, Leongatha and Portland will also close. In NSW, regional branches in Glenn Innes, Kiama, Lavington and Wauchope will close.

Member for Morwell Russell Northe said the pending closure of Westpac’s Morwell Bank

branch was a “kick in the guts” for Morwell businesses and residents.

“I am just dismayed that yet another major financial institution seems to have a blatant

disregard for the Morwell community,” Mr Northe said.

“We have already seen the departure of the ANZ, Bank Australia, Bendigo Bank and the

relocation of the Commonwealth Bank from the CBD which is bad enough.”

Finance Sector Union national secretary Julia Angrisano said customers would be worse off.

“This is a low act, and shameful behaviour from Westpac which pushes customers onto the scrap heap when a branch fails to meet its targets for new sales of banking products and a continuing boost to profits,” Ms Angrisano said.

“Shutting down branches means Westpac will continue to put profits before people. The bank quite plainly doesn’t care about forcing inconvenience on customers and throwing affected staff onto unemployment queues.”

A Westpac spokesman said the branch closures reflected the fact that more customers were now banking online.

“Westpac continues to follow our customers by investing in the ways they are choosing to bank. This follows a significant shift toward digital and cashless banking, and declining foot traffic in bank branches,” the spokesman said.

“When we do close a branch, it is not a decision we take lightly. We take into consideration customer usage, location, and proximity to other banking services.

“We have a robust process in place to assist employees in finding new opportunities within Westpac Group, including support from their leader and access to a career transition coach during a redeployment period. This means the majority of employees affected by branch changes secure a new role and continue their career with the Group.

“Branches remain an important service option, especially in areas that have high customer usage. Westpac has also grown its 24/7 phone banking and virtual banking centres to further assist customers with their needs,” the spokesman said.

Westpac will close branches under the Westpac, Bank of Melbourne and St George brands in the following locations:

VIC: Bentleigh; Colac; Eltham; Greythorn; Leongatha; Morwell; Portland; Reservoir; South Yarra; Werribee.

NSW: Glenn Innes; Kiama; Lavington; Leura; Wauchope; Cronulla; Kingsgrove.

SA: Fulham Gardens; Peterborough.

Qld: Nambour; New Farm; Toombul.

WA: Kununurra; University Campus.