Another bank abandons us
A second bank has announced it will close its Woy Woy branch.
Newcastle Permanent Building Society will close its Woy Woy branch on March 26.
It will no longer have a presence on the Peninsula, with its nearest branch being in Gosford.
The local bank branch closure is the second in four months, with the ANZ bank closing its Woy Woy branch in November.
Similar to the ANZ, the bank claimed it was responding to "customer preferences".
"In the past year customer preferences have changed at an accelerated pace and we are now seeing more confidence and stronger reliance on digital banking services and reduced demand for cash and branch interactions from our customers," said the bank's customer retail head Ms Jackie Connors.
"As a result, we are adapting and realigning our services to better support the current and future banking needs of all our customers.
"We will be closing our branch at Woy Woy from 5pm Friday, March 26."
The bank claimed that branches were "still a critical part" of its future.
The closure of the Woy Woy branch would "support important investment" in the redevelopment of its Newcastle Mall and Gosford branches.
The customer-owned bank claims to have a "vision" which includes "contributing to the wellbeing and vibrancy of our local communities".
SOURCE:
Letter, 16 Feb 2021
Jackie Connors, Newcastle Permanent