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People First Bank has announced it will close 15 branches and three agency outlets from 12 March as part of this shift.
The customer-owned bank, formed through the 2023 merger of Heritage Bank and People’s Choice Credit Union, said its Glenelg branch in South Australia and Ballarat branch in Victoria will be converted into “lending and advice centres” focused on more personalised customer support.
Under the new model, customers will be able to access tailored lending assistance and advice across a range of banking products and services. While over-the-counter teller services will be removed, cash withdrawals and deposits will continue to be available via on-site ATMs.
Chief customer officer Maria-Ann Camilleri said changing customer behaviour was driving the transformation.
“The way people bank is changing significantly, with most using card payments, Internet Banking and our App for their day-to-day banking,” she said.
“Less than 1 per cent of our transactions occur in branches and fewer than 0.7 per cent of our customers use a branch regularly.
“As a customer-owned bank, we must adapt to changing banking preferences by investing in the services our customers use most.”
People First Bank is not alone. National Australia Bank (NAB) is also overhauling its in-person offering, with plans to introduce community hubs and financial centres, offering wealth management and investment advisory resources.
Branch closures
The People First Bank branches set to close are Coomera, Hervey Bay, Kawana Waters, Kippa-Ring, Macquarie Park, Millmerran, Oakey, Pittsworth, Runaway Bay, Toowoomba Range, Tweed Heads, Wilsonton, Blackwood, Millicent, and Caroline Springs.
Agency outlets in Laidley, Goondiwindi, and Maryborough will also shut.
The bank said all affected employees will be offered alternative roles and that some in-person banking services and cash access will remain available near the closing locations.
The closures reflect a broader national trend. Since 2017, the major banks alone have shut more than 2,000 branches, including around 800 in regional areas.
Recently, Bendigo and Adelaide Bank announced plans to close 10 branches from August 2025, citing evolving customer preferences, reduced business activity, and rising costs.
In February last year, the major banks agreed to pause branch closures and expand Bank@Post services.
Broker Daily sister brand The Adviser reported that Wagga Wagga City Council has called on the federal government to examine the feasibility of a government-owned bank.
“Regional banking and postal services are facing unprecedented degradation,” Councillor Richard Foley said, who presented the motion.
“Major banks continue shutting down branches throughout regional Australia, frequently closing the last remaining branch in towns that have relied on these services for decades.”
[Related: Inflation drop shifts consumer focus to savings]