Bendigo Bank has confirmed it will close ten of its branches across Victoria, Queensland, and Tasmania over the coming months, prompting strong reactions from community groups and unions. The closures, scheduled between August 1 and October 31, will affect towns where in-person banking services are a key component of local infrastructure.
The decision follows an internal review of customer usage, business activity, and operational costs. While the bank maintains its commitment to regional communities, the Finance Sector Union (FSU) has condemned the move, warning of service loss and job cuts in already underserved areas.
Closure Schedule Spans Three States
The branch closures will begin with Kings Meadows in Tasmania on August 1, followed by multiple locations across Victoria and Queensland through to the end of October. In Victoria, six branches are affected: South Melbourne, Korumburra, and Malop Street in Geelong will shut in early August. Bannockburn and Yarram will follow on September 25 and 26, with Ballarat Central closing on October 31.
In Queensland, both the Malanda and Tully North branches will close on September 26. In Tasmania, Queenstown will shut its doors the same day. The affected towns include locations where no alternative bank branches exist, raising concerns over regional access to essential financial services.
Bendigo Bank Cites Shifting Customer Behavior
Bendigo Bank has explained that the closures stem from changing customer preferences and a need to align services with evolving demands. According to Richard Fennell, the bank’s Chief Executive Officer and Managing Director, the decision was not taken lightly. He emphasized that while the closures were difficult, they are necessary to maintain the bank’s operational sustainability.
Fennell added that Bendigo Bank remains proud of its regional heritage, pointing out that the institution operates more branches per customer than any other bank in Australia and maintains the nation’s third-largest branch network overall. The bank plans to continue investing in both physical infrastructure and digital solutions.
Bendigo Bank has confirmed it will shut ten branches across three states in the next few months, a move the Finance Sector Union has labelled a "slap in the face" for Aussie customers in regional communities.https://t.co/5XgJsSq764
— Sky News Australia (@SkyNewsAust) July 8, 2025
Union Warns of Job Losses and Diminished Services
The Finance Sector Union has strongly opposed the closures, calling them a betrayal of Bendigo Bank’s regional identity. FSU National Secretary Julia Angrisano stated that the closures would impact around 32 full-time equivalent roles. She stressed that five of the ten branches—Bannockburn, Korumburra, Yarram, Malanda, and Queenstown—are the last remaining banking facilities in their communities.
In public statements, Angrisano criticized the decision as harmful to towns that rely heavily on face-to-face banking. She described it as a “slap in the face” to customers who view Bendigo Bank as a cornerstone of local financial access and noted the union had contacted local members of parliament and the bank’s leadership in an attempt to halt the closures.
Political and Regulatory Pressure Intensifies
The FSU has renewed its campaign to designate banking as an essential service under Australian law, which would place additional protections on regional branches. The union referenced a Senate inquiry held one year ago into the erosion of banking services in rural areas, arguing that the latest closures reflect a wider national trend.
Bendigo Bank has indicated it is actively working to support displaced staff through relocation opportunities and internal transitions. While the institution has not reversed any of the scheduled closures, it continues to communicate with stakeholders regarding service alternatives for affected communities.
