The Finance Sector Union has sharply criticised People First Bank’s plan to close 15 more branches across New South Wales, Queensland, Victoria, and South Australia, warning the move will leave regional communities without access to face-to-face banking and put more than 70 jobs at risk.
The closures, set to take effect in March, follow the shutdown of 18 branches in April last year, bringing the total number of closures to 36 in just two years.
According to the FSU, the bank's branch network has shrunk by around 40% since the 2023 merger of People's Choice Credit Union and Heritage Bank, despite prior assurances that the merger would create one of Australia’s largest member-owned branch networks.
Queensland is expected to be hardest hit, with nearly half of the former Heritage Bank branches earmarked for closure.