The letter informs them the nearest Branch will then be at Mona Vale, although they can use the Post Office at Avalon Beach for transactions - shifting the work from bank tellers to post office employees.
The news service has spoken with residents who will be impacted, finding pensioners and local businesses who use the branch on a daily or weekly basis will to be the most impacted.
Independent MP for Pittwater Jacqui Scruby stated:
“After making nearly $11bn in profit last financial year, CBA is making a mockery of its clients by closing branches like Avalon that are relied on by the community, especially older people and our local businesses.”
“People are outraged and rightly so, the queues are long, the bank is used and is providing services that the post office can’t provide – especially for businesses needing change or the ability to make deposits, which is also a security issue.”
“I have written to CBA requesting the decision be reconsidered and at very least confirm that an ATM will be retained and it is welcome that CBA has confirmed it will continue to provide an ATM. I also spoke to other members of parliament who have had branch closures, but their experience is that despite community opposition, CBA has proceeded with closures anyway.”
“I understand that all employees will be transferred but I would like to extend support to any employee or resident impacted by this decision to contact my office.”
“Only last month CBA confirmed a moratorium on regional closures and a commitment to retain cash, but within days has given notice of Avalon Branch’s closure. They are missing the point that people and communities want banking where they live and shop, and being able to talk with a manager or teller to assist managing their finances is incredibly important.”
“AI is evolving so rapidly that we are not ready as a country for the impact this may have on waves of redundancies across many industries. In coal mining, forestry and other industries we decades years planning transition including financial packages to support workers. Whilst businesses embrace productivity gains, we must also put protections in to prevent shocks to the economy.''
According to the Finance Sector Union (FSU) by October 1 2026 the Commonwealth Bank had closed 29 metropolitan branches.
Another announced since then in the Electorate of Casey, which covers Melbourne's outer eastern suburbs, the Yarra Valley, and the Dandenong Ranges, has their federal MP sharing the following which would not seem to align with an announcement made the same day by the Commonwealth Bank:
National Australia Bank - 2500 jobs to go
On Tuesday October 20 the National Australia Bank announced 'actions to simplify its operating model and better align its workforce to prioritise growth and technology initiatives for customers'.
'As part of these actions, NAB expects to reduce its internal workforce by up to 2,500 roles or ~6% in FY27. This will include up to 1,500 roles before the end of 2026. NAB will also materially reduce its use of consultants and external contractors.'
NAB Group CEO, Andrew Irvine said: “Our ambition and strategy remain unchanged. We will improve productivity, risk outcomes and execution to be a simpler and more efficient bank.
“These changes are expected to improve outcomes for customers by reducing duplication and speeding up decision making.
“We are particularly focused on reducing the size of corporate functions. There will be no material impact to customer-facing banking roles.
“We have also deliberately made deeper changes to senior management positions which will broaden leadership responsibilities across the bank.
“This will simplify work between teams and improve cross-functional processes with clearer roles, priorities and accountabilities for our colleagues.
The NAB stated it will support departing colleagues with: 'Consultation and engagement opportunities, Redeployment and reskilling opportunities, Career transition support, Redundancy entitlements in accordance with applicable industrial instruments and employment obligations.'
The statement closed with:
'NAB expects to recognise a restructuring charge of approximately $300m pre-tax in FY27. The charge relates to redundancy, redeployment and organisational redesign costs. This compares with a charge of approximately $80m pre-tax which has been incurred in each of FY25 and FY26.
Further details on the cost outlook for FY27 will be provided with the release of FY26 results on 5 November 2026.'
NAB workers who spoke to the ABC on condition of anonymity said the writing was on the wall as the bank pushed the uptake of AI and moved work offshore.
"Until today, it's been a lovely place to work," said 'Dylan', who has worked in NAB's technology team for a decade but learnt he could be unemployed by the end of the year.
His team will have to reapply for their jobs in what is known as a "spill and fill" type of workforce restructure, where existing roles are made vacant and current employees have to fight for a smaller number of positions.
Last face-to-face Branch north of Mona Vale
Avalon Beach, like Newport, once had an ANZ, Westpac, St. George and NAB face-to-face bank branches. The Commonwealth Bank Branch was the sole remaining place customers could conduct physical banking.
The closure will mean elderly residents will need to catch a bus to Mona Vale, the preferred method of transport for many retirees, which will mean at least an hours trip there and back to do their banking.
Small business owners who need for cash-only customers will also need to factor in travelling time and finding a carpark in Mona Vale as part of their long days.
FSU National Secretary Julia Angrisano said on October 1 2026:
"For older Australians, people with disability, small businesses and anyone who struggles with online banking, local branches are a lifeline and an essential service, and all banks should be required to provide that service.
"It’s disappointing that CBA has not extended its moratorium to metro branches. Already this year, 29 metro branches are due to shut or have already closed.
“Closing metro branches clearly isn’t about necessity - it’s about squeezing even more profits at the expense of customers and workers.
"If CBA can guarantee regional branches until 2030, it can guarantee every branch. We're calling on CBA to extend the moratorium to all communities, not just some."
CommBank's October 1 2026 Announcement
Ms Angrisano was referring to an announcement by CommBank that same day which stated the:
''Commonwealth Bank today committed to keep all its regional bank branches open into the next decade, as part of a comprehensive plan to maintain Australia’s largest banking network.
CommBank was the first bank to make a regional branch commitment in February 2023 and now that extends until at least December 2030, providing certainty for regional communities.
CommBank is investing across all banking services, with a commitment to its branch network, Australia’s largest cash and ATM network and continued enhancements to personalised digital banking services.
$140 million will be invested in FY27 to deliver upgrades across Australia’s biggest branch network, with a focus on more responsive and more personal branch service and more convenient access to specialist support.
Commonwealth Bank CEO Matt Comyn said the bank will give customers, local businesses and communities long-term certainty that the banking they trust will remain in place.
“We understand how important access to in-person services is for our customers, along with mobile, phone and online banking. We believe this importantly provides certainty for our people and our customers in the near term, while we remain committed to working constructively with the banking industry on a long-term sustainable solution,” Mr Comyn said.
"Regional communities are central to the Australian economy and our way of life. We have been part of these communities for generations, and today we are providing certainty that every one of our regional branches will remain open into the next decade.''
Among the 'Key points' of that October 1 2026 announcement by the Commonwealth Bank was it would spend '$140 million to improve branches across Australia, reduce wait times and improve access to lenders, specialist and business bankers in branches, including 'metro locations' and that 'CommBank will continue to provide widespread access to cash through the largest network of over 1,700 bank-owned ATMs and branches across the country.'
11 Billion Dollar Profit
The Commonwealth Bank announced an $11 billion profit for the full year ended 30 June 2026 on August 12.
Their report, which states this will return $5 per share to shareholders, stated:
'pre-provision profit increased 6% to $16.5bn and return on equity rose to 14.0%. Operating income increased 6%, supported by customer and volume growth and a broadly stable underlying net interest margin. In FY26, CBA grew at or above system in each of our five core domestic product categories: home lending, business lending, consumer finance, household deposits and business deposits. It is the first time CBA has achieved this and the first time any major Australian bank has done so in the past 15 years. We remain the main financial institution for one in three Australians and one in four Australian businesses.'
The Report also revealed the Commonwealth Bank has 'Launched national AI, cybersecurity and digital capability initiative with OpenAI for 1 million small businesses.' which may be of concern considering OpenAI agent worked around security barriers, ran commands, and accessed non-public aggregate statistics and internal file names in Australian systems with the government only being informed months after the incidents occurred.
The Finance Sector Union (FSU) stated the same day, August 12 2026:
'CBA’s announcement of a net after-tax profit of $11 billion comes after a year of savage job cuts and offshoring as the workers who delivered the profit wait for the bank to agree to a new, and overdue, Enterprise Agreement.
The FSU is seeking a fair 5% pay increase per year for the majority of the bank’s 37,000 employees as well as guarantees around job security, safe workloads and staffing, and flexible work.
Despite 10 meetings with CBA since February, the bank only presented the FSU with its counter-offer last week.
The offer will lead to a decline in real wages as around two thirds of staff will receive a wage increase below the Consumer Price Index in the first year.
About 70% of its workforce receive up to 8.75% over three years and some will miss out on a wage increase altogether.' the FSU stated
'CBA’s minimum pay rate is $29.26 per hour, less than $3 above the national minimum rate ($26.44 per hour) and only slightly more than a Bunnings employee who can earn $28.64 per hour, with the added benefit of five weeks leave and a nine-day fortnight.
CEO Matt Comyn won’t have to worry about inflation however, he upped his total annual pay packet to more than $9 million, 150 times the annual pay (before-tax) of the lowest paid CBA worker.
The FSU believes the pay disparity between those at the top of the organisation and those at the coalface is embarrassing for a bank that was once the financial standard-bearer of our nation.
CBA has axed 850 jobs this calendar year and its leadership has been vocal about the potential for AI to usher in further workforce ‘efficiencies’.
It’s not all doom and gloom however, the bank’s Bengaluru (Bangalore) workforce has expanded by more than 143% over the past five years.'
On Wednesday October 14 2026 the FSU announced workers at the Commonwealth Bank of Australia (CBA) had 'finally been offered a genuine pay rise, after months of relentless pressure from staff and the Finance Sector Union (FSU).'
'Faced with the prospect of CBA workers protesting at Wednesday's AGM, CBA presented the union with an improved offer that will see workers on the lowest pay band get a 13% pay increase over three years.' the FSU stated
'This would be the highest pay outcome in the banking sector – an offer befitting Australia’s richest bank, which recently posted a record $11 billion profit.
'The new offer also includes up to an additional 6.5% guaranteed pay rise for higher paid Tier 3 and 4 employees compared to what CBA was previously offering.
The offer still requires a formal vote of all CBA workers but it is significantly better than previous proposals, which would have seen wage rises eaten by inflation.
This outcome is the result of months of negotiations with the union and a worker-led campaign to lift the lid on what it is really like to work at Australia’s biggest bank.
Thousands of workers signed a petition addressed to CEO Matt Comyn and shared their stories about fears of homelessness, having to take second jobs and turning off their heating to make ends meet.
The FSU has also secured commitments from the bank regarding key workplace conditions, including 5 days paid reproductive leave, a two-week increase to paid parental leave (20 weeks total for all parents), simplified performance pay, greater consultation when setting KPIs, and the introduction of an artificial intelligence committee.' the FSU said
The 'People's Bank' no longer
The shift to banks using AI, the continued closure of Branches that serve metro communities, including the letter above, issued 2 days after the AGM, and the job losses aren't passing the 'pub test' locally, with local pensioners and businesses stating they are angry about the closure of the branch at Avalon Beach.
For those who grew up as Commonwealth bank customers and remained so over all our lives, who filled our iconic green and gold tin-plate Commonwealth Bank money box from the 1960s through school banking teaching, a box modelled on the bank's historic head office building on the corner of Pitt Street and Martin Place in Sydney, the closure represents a betrayal of trust from an institution originally set up in 1911 as the 'people's bank'.
