The Sunshine Coast branch of a bank with more than 700,000 members is set to close within months.
People First Bank has announced it will permanently close 15 branches and three agency outlets across Australia from March 12.
Among these is the branch (named Heritage Bank) at Kawana Shoppingworld in Buddina.
“The way people bank is changing significantly, with most using card payments, internet banking and our app for their day-to-day banking,” chief customer officer Maria-Ann Camilleri said.
“As a customer-owned bank, we must adapt to changing banking preferences by investing in the services our customers use most. This decision is not driven by profit but by a careful focus on directing our limited resources to digital, call centre and other services that provide the greatest benefit to the most customers.
“We know how important branches are to communities, so these decisions are only made after careful consideration as to how best serve our customers now and into the future. We will do everything we can to support those affected and help them continue banking with us.”
A bank spokesperson said only 1.6 per cent of its customers in the Kawana Waters area used the Heritage Bank branch at least once a month.
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People First Bank was created in March 2023 through the merger of People’s Choice and Heritage Bank.
A media statement from the bank said all employees at affected branches, including at Buddina, would be offered an alternative role.
It said the nearest alternative branch to Heritage Bank at Kawana is at Maroochydore, which is 8km away, and that customers could withdraw cash and make deposits in person fee-free using the Bank@Post services at Australia Post outlets. There is an Australia Post office within Kawana Shoppingworld, about 200m from the branch.
“Regular users of affected branches will be contacted and provided personalised support to help them transition to alternative ways to bank with us. This includes dedicated support lines available now and for six weeks after the March 12 closures,” it said.
The other branches to close are Coomera, Hervey Bay, Kippa-Ring, Macquarie Park, Millmerran, Oakey, Pittsworth, Runaway Bay, Toowoomba Range, Tweed Heads, Wilsonton, Blackwood, Millicent and Caroline Springs. The Laidley, Goondiwindi and Maryborough agency outlets will also close.
The closures follow the shutdown of 18 People First Bank branches in April last year, bringing the total number of closures to 36 in two years.
The Finance Sector Union (FSU) said that since the merger, People First Bank’s branch network had been cut by 40 per cent, despite assurances to customers that the merger would deliver one of Australia’s largest member-owned branch networks.
It said People First Bank recorded a 7 per cent increase in profits in the last financial year.
“This is a bank that says it puts people first, yet it continues to abandon regional towns and local workers,” FSU national secretary Julia Angrisano said.
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“When the merger was sold to customers, they were promised better access and more branches, not fewer.
“Instead, communities are being stripped of local banking services while the bank continues to report rising profits.
“This is not what banking for people looks like, for older customers, people with disabilities, and small businesses that rely on in-person banking, these closures are devastating.
“People First Bank says supporting customers and communities is at the heart of everything they do, but their actions tell a very different story.
“Bank branches are not a luxury, they are essential infrastructure. Without government action, we will continue to see towns abandoned and workers paying the price.”
People First Bank was approached for further comment.
