New Brighton, Sydenham and Lincoln to lose Westpac shops

Wednesday, 22 November 2017

Westpac is closing three more branches at New Brighton, Sydenham and Lincoln.

It is also reviewing its lending services team, affecting up to 10 people.

New Brighton community board member Tim Sintes said the rumour about Westpac's closure has been around awhile and would dismay older bank customers.

Westpac's senior external relations manager Heather Shiels said that since the 2011 earthquakes the region has experienced significant shifts in population, affecting where people were living, working and banking.

Westpac would be looking to transfer the majority of staff to other branches.

* As it happened: Westpac's bank closures

* ANZ closing seven bank branches**

Coastal ward city councillor David East said he and other civic leaders were talking with Westpac about deferring the New Brighton Closure.

The three targeted branches had all experienced a decline in over-the-counter transactions, Westpac's Shiels said.

Customers were increasingly using technology for their banking, resulting in fewer branch transactions.

Over the past five years, online transactions had increased 66 per cent, and in the past two years the percentage of customers using mobile-only devices has increased from 24 per cent to 39 per cent.

'We are proposing to consolidate New Brighton, Sydenham and Lincoln branches with nearby branches,' Shiels said in a statement.

The nearest Westpac branches to New Brighton are at The Palms Shopping Centre, Shirley, and Eastgate Shopping Centre, Linwood.

The closest alternative for Westpac customers in Sydenham would be Barrington Mall or Cashel St in the central city, while Lincoln customers would need to travel to Rolleston where they can obtain several services except over-the-counter cash deposits which must be done via a machine.

Shiels said no decisions had yet been made, and Westpac was currently consulting with affected employees and would not be commenting further at this stage.

Westpac employs more than 700 people across Canterbury and will open its new flagship branch in the central city in March 2018.

Pegasus-Burwood city councillor Glennn Livingstone said Westpac had made a strategic mistake given the amount of public investment going into revitalising New Brighton.

'It won't deter us. The work on the playground is under way. But for older people who like face to face banking there will be problems trying to access branches in other places,' Livingstone said.

Ironically, the closure also comes as the number of vacant shops in the main street of New Brighton falls to 11 from 21 a year ago.

Tim Sintes, Coastal-Burwood community deputy chairman, said the closure of any bank outlet was a big deal because they tended to be 'people magnets'.

'The Westpac branch has been there a long time.BNZ went a year ago leaving ANZ and the NZ Post and Kiwibank shop.

'There are plenty of positive things happening but it's a shame to lose an anchor tenant like a bank. It will leave a large vacant space,' Sintes said.

Steve Burke, a former chaimran of the local residents association said banks were a core service and questioned why they needed to close when they made millions of dollars - Westpac made an $8 billion profit in the year ending September 2017.

A Lincoln Community Care spokeswoman said ASB and Kiwibank would have the only permanent bank outlets remaining.

Westpac is continuing a trend of all major banks. Last year it announced 19 closures.