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BCU announces branch closures

Important changes to the bcu branch network

We would like to update our members on some changes to the BCU branch network.

Changes in member banking behaviours, including increased use of digital banking, have resulted in a decline in member demand for branch services.

In addition, we have found that COVID-19 has challenged our ability to consistently resource some BCU branches, particularly in more remote locations.

We have therefore made the difficult decision to close the following branches as of Friday 10 February 2023:

  • Bowraville
  • Iluka
  • Murwillumbah

These branches have been averaging less than 20 transactions per day and these numbers continue to decline, having fallen about 19% over recent times, despite the easing of COVID restrictions.

This decision has not been made lightly, and it has been subject to strong governance and oversight by the BCU Advisory Council, Executive and Board.

We are directly contacting members of these branches to help transition them to alternative ways of banking with BCU. In addition to using Bank@Post services, members can also use Phone Banking, iBank or the BCU Bank app 24 hours a day to perform their everyday banking transactions.

While the physical branches will no longer be present in these communities, BCU is committed to continuing to support its members and local communities through its Community Engagement Framework.

There will be no forced staff redundancies because of the branch closures, and we are working with relevant staff to determine suitable redeployment opportunities within our organisation.