National Australia Bank (NAB) has decided to close seven branches in June this year following consultation with the local teams.
Located in Riverina and surrounding areas, the seven branches are located at Ardlethan, Lockhart, Grenfell, Culcairn, Boort, Barham and Euroa.
The NAB customers in these areas can continue their banking transactions at the Australia Post offices including cash deposits and withdrawals.
Additionally, the bank will invest $1.6m in its other branches to streamline operations.
The investment was used to upgrade its Cowra, Seymour and Kerang branches while improvement works at the Tatura, Alexandra and Griffith branches are scheduled to be completed in September this year.
The upgrade works include the installation and upgrading of 32 ATMs, most of which are ‘Smart ATMs’ that allows the customers to make deposits, check balances and withdraw cash.
NAB general manager retail Paul Juergens said: “While our branches continue to be an important part of what we do at NAB, the way our customers are banking has changed dramatically in recent years.
“Increasingly we find that our customers are banking at other branches, or prefer to do their banking online, on the phone, or through our mobile app.
“In the locations we are closing, more than 80% of our customers are also using our other NAB branches in the area.”
Currently, NAB is working with the affected branches’ employees with their future career options.
Juergens added that often the local teams are absorbed in other NAB branches, which if not possible, the bank assists the employees by providing a career coaching for six months.