NAB closes its Wynnum branch

The biggest move in the last few days has been out of Wynnum Central, not in. As announced at the beginning of August, the National Australia Bank branch in Wynnum closed a few days ago, on 29th September.

All three local politicians – State Member Joan Pease, Councillor Peter Cumming and Federal Member of Parliament Ross Vasta – expressed their extreme dismay at the decision and urged locals who banked with NAB to move their accounts to other banks that do still have a presence in Wynnum.

The move by NAB was explained by NAB’s retail customer Executive Richard Fox…

“Over the past few years, fewer customers are coming into branches to do their banking and foot traffic has lessened, which has been accelerated by COVID. Approximately 60 per cent of our customers in Wynnum have only visited the branch once in the last year and more than half of customers are also using other branches.”

The decision is a recognition of the increasing move to online banking, however it leaves certain groups, especially older people and local retail businesses, in the lurch.

The closure of the NAB follows other recent bank closures in Wynnum such as Suncorp and ANZ (read our previous article here).

Two banks in Wynnum that are very unlikely to be closing their doors anytime soon are Bank of Queensland (locally owned) and Bendigo Community Bank (read more about Bendigo Community Bank here).

We’ll have some updates soon on new businesses moving into Wynnum.