Finance Sector Union, Media Release, 2 July 2025
In a move which calls into question its positioning as the “better big bank”, Bendigo Bank has announced the closure of 10 branches – five in regional communities where they are the last remaining bank branch.
The Finance Sector Union has written to the Bank’s CEO, Richard Fennell, as well as local Members of Parliament, and the Federal Minister, as it seeks to save the branches. Only a full reversal of this move will protect the 32 full time equivalent roles and the essential service they undertake in their local communities.
These closures are scheduled to begin on 1 August with the final branch slated to close on 31 October. See below for details of the impact by location, staff numbers and proposed date of closure.
Finance Sector Union National Secretary Julia Angrisano said:
“To close 10 branches, five in regional communities with no other bank branch, is a slap in the face from a bank which most Australians know as the largest regionally based bank, and a supporter of regional communities. While 32 full time equivalent roles are impacted, many more individuals are at risk due to the number of part time staff engaged in these branches.
“Three Victorian communities – Bannockburn, Korumburra and Yarram, along with Malanda in Queensland, and Queenstown in Tasmania will lose the last of their local bank branches. Also impacted are regional branches in Kings Meadows (Launceston, Tasmania) and Tully (in Northern Queensland).
“The largest impact from this decision will be felt in the bank’s home state of Victoria with six branches closing including larger regional branches in Geelong and Ballarat, and a suburban branch in South Melbourne.
“This is an incredibly disturbing development and does not bode well for the future of Bendigo Bank’s presence in regional Australia. For a bank which proudly has its regional centre hometown as part of its name, and is fondly known for its community branch network, this decision feels very ‘big bank’ for all the wrong reasons.
“It’s been almost 14 months since the Senate Inquiry into regional banking handed down its report calling for banking to be regulated as an essential service, especially to protect regional communities. We’ve written to the local MPs in the regional communities affected by this closure asking them to stand up for these branches, and the workers who staff them.
“The Finance Sector Union has also raised the issue of consumer and worker regulation of banking with new Assistant Treasurer and Minister for Financial Services Daniel Mullino MP. It is critical that the federal government step in and protect bank workers and customers given the banks have proven themselves to be incapable of doing anything other than putting profits and shareholders first.”
Bendigo Bank branch closures
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As a past senior employee and current shareholder of bendigo bank I can only describe the actions by the bank in this case as extremely disappointing and contradictory to the hard work and strategies implemented by former senior executives and past CEO’s etc to create a Bank with a point of difference etc etc.
I agree 100% to the comments in this article. The better big bank _ I don’t think so.
In recent conversations with past and present employees the general feeling towards their employer is not at all positive.
I have been a customer of Bendigo Bank in Bannockburn since it opened in 2000 .
I have a personal savings account.
I have held a treasurers position in 2 local clubs for many years.
I have been a volunteer for in this community for 20 years being awarded Senior Citizen of the Year. 2023
As an older citizen I am only driving locally and would not be able to travel the distance to complete any banking involved with Bendigo Bank in future
My concern is that as a Regional community with a large percentage of older population we are being further isolated with the loss of our bank . Many older Australians are not trusting of phone banking and stories of hackers and malware is prevalent.
Our town has recently become home to a number of disadvantaged groups and as our town does not have a public transport the loss of our only bank is a huge concern.
In fact Golden Plains Shire is the largest Shire in Victoria which now will be without a face to face bank is incredible.
Bannockburn is also the fastest growing town in Victoria with a recent draft plan for 4600 new housing builds. Including 4 new schools