Narooma has two banks left after NAB closed its doors in December

In December NAB closed its Narooma branch, leaving just IMB and CBA.

The latter only opens from 9.30am to 1pm.

Bermagui only has Horizon Bank yet Bega has eight - the big four plus IMB, Horizon, St George and Bendigo Bank.

Finance Sector Union national secretary Julia Angrisano said before banks close regional branches the FSU wants banks to conduct community impact assessments to understand the potential impact on their customers and the community, including availability and accessibility of alternative banking options, particularly for vulnerable customers.

"Often in remote and regional areas it is usually the elderly who don't feel safe banking online and the Indigenous and community volunteer groups with their donations, usually in the form of cash," Ms Angrisano said.

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Bank closures also affect small business owners who deposit large amounts of cash, including coins, or who require change for their customers in the form of coins.

Ms Angrisano said bank closures further impact small business through a domino effect.

"People no longer come into town to do their banking and they would have done some shopping so closing central services like banks has an impact on all the community and associated businesses."

She said it was important that banks kept local connections by being on the ground to ensure they understand the community and environment amid droughts, floods and bushfires.

Banks often justify closing branches by saying everyone is banking online.

"That is disingenuous because we know from our members they have been forced to migrate people online but customers aren't using that service."

Ms Angrisano said in addition to banks properly consulting all stakeholders, communities should have the right to appeal the banks' decision to close even when there are no alternatives.

"Banks make their decisions on branch closures based on profit, not the people they serve.

"They can choose to keep them open but they choose profit over people and don't do the right thing by their customers," she said.

Ms Angrisano said every Australian needs access to banking services that are affordable and fair.

"Banks were designated an essential service during the pandemic so they should be providing universal access to a minimum set of standards.

"They are losing their social contract."

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