Kiama is to lose its Westpac Bank on 19 August, as part of the bank closing 24 branches across Australia, leaving just three banks in Kiama – the Commonwealth, NAB and IMB, and the newly opened branch of Bendigo Bank in Gerringong.

The news was broken today by the Finance Sector Union (FSU) and later confirmed by Westpac.

“This is a low act, and shameful behaviour from Westpac which pushes customers onto the scrapheap when a branch fails to meet its targets for new sales of banking products and a continuing boost to profits,” said FSU National Secretary Julia Angrisano.

“Shutting down branches means Westpac will continue to put profits before people. The bank quite plainly doesn’t care about forcing inconvenience on customers and throwing affected staff onto unemployment queues.”

A spokesperson for Westpac said, "Westpac continues to follow our customers by investing in the ways they are choosing to bank. This follows a significant shift toward digital and cashless banking, and declining foot traffic in bank branches. When we do close a branch, it is not a decision we take lightly. We take into consideration customer usage, location, and proximity to other banking services.

"In this case, customers can continue to bank locally by utilising Bank@Post services 110 metres away from the current Westpac site at Kiama Post Shop or call our Customer Care team on 132 032.

"Westpac Group has also grown its 24/7 phone banking and virtual banking centres to further assist customers with their needs. Many of our customers are comfortable doing most of their banking online, but for those who would prefer face-to-face service we will continue to offer a range of ways to bank with us.

"We have a robust process in place to assist employees in finding new opportunities within Westpac Group, including support from their leader and access to a career transition coach during a redeployment period. This means the majority of employees affected by branch changes secure a new role and continue their career with the Group."

Staff have been involved with consultations over the last couple of weeks.

"I am personally deeply disappointed that our residents will be losing a vital service," says Mayor Neil Reilly.