Umina loses its last bank branch
Umina will lose its last bank branch on Friday, August 26.
The Umina Beach branch of the Commonwealth Bank will close, leaving just five bank branches on the Peninsula - one at Ettalong and four at Woy Woy.
Commonwealth Bank regional general manager Mr Norm Swift said: "Transactions at this branch have dropped by half over the five years before the coronavirus pandemic."
"Our people from Umina Beach branch will be offered redeployment opportunities, including roles supporting customers over the phone and online, or other comparable roles where it suits them.
"There are no job losses as a result of this decision."
"We've ensured customers who prefer over-the-counter service still have access to this option.
"For Umina Beach customers, we have a nearby central branch four kilometres away at Woy Woy.
"We've found 31 per cent of customers from Umina Beach are already visiting Woy Woy branch.
"We understand this change may affect the way some of our customers bank.
"The team at Umina Beach branch are available until Friday, August 26, to help customers find the solutions that best suit their needs.
"For customers who prefer face-to-face options, Australia Post's Bank@Post service is also available at the Umina Beach Local Post Office for personal and business banking transactions.
"Last year we renewed this service until 2032, so customers can continue to make withdrawals and deposits including passbooks during normal business hours."
"Customers can also access their accounts 24 hours a day through NetBank or the CommBank app.
"We are also available for general banking enquiries, through our locally-based contact centres on 13 22 21, every day between 8am and 8pm."
"We recognise some senior customers prefer to do their banking face-to-face and this is one of the reasons why the bank is proud to maintain the largest branch network in the country.
"Each year, we invest around $50 million in our branch network, to upgrade and refurbish existing branches and open new branches where we see customer demand."
Peninsula Chamber of Commerce president Mr Matthew Wales said he was "extremely disappointed in the that the Commonwealth Bank is closing the Umina Beach branch".
"This is yet another sign that the big banks care little for local town centres as they continue to strive to cut costs and drive profits up often at the expense of local communities.
"Umina Beach is one of the busiest and most vibrant retail shopping strips on the Central Coast yet it appears that the Commonwealth Bank is more interested in saving dollars than looking after the interests of its local customer base.
"Sadly, I'm not surprised as we have seen a cavalcade of banks and buildings societies slowly withdraw from the main street with only brand ATM's offering any form of banking service," he said.
"This now leaves Umina Beach without any frontline banking services.
"This does nothing for the health and vitality of local town centres and is a sad reflection of changing times and big bank attitudes."
Media release, 21 Jul 2022
Matthew Wales, Peninsula Chamber of Commerce
Media statement, 21 Jul 2022
Monica Schubert, CBA