Maitland's Newcastle Permanent branch is set to close next week with customers being asked to change to the "significantly" more used branches at Green Hills or Rutherford.
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The branch in The Levee will close on Friday, March 13 after "careful consideration" by the building society. All affected staff will be relocated to other branches.
The company said one of the factors behind the decision was the increasing use of online services and decline in branch use.
Branches now account for less than 10 per cent of Newcastle Permanent's overall customer transactions, and there has been a 30 per cent reduction in transactions over the past five years throughout the branch network.
"We haven't made this decision lightly, however we must ensure we continue to adapt our services to our customers' changing needs," Chief Customer Experience Delivery Officer Paul Juergens said.
Another factor in the decision was the proximity of the Rutherford and Green Hills branches, which the company says are much busier than the branch in The Levee.
"Both Green Hills and Rutherford experience significantly more use by our customers than our Maitland branch," Mr Juergens said.
The business will be the latest in a number of long-term Levee shops that have closed or relocated out of Maitland CBD.
GIO Maitland moved from The Levee to Garnett Road, East Maitland in December, and agency principal Gary Hincksman said his customers have found the new branch much easier to access than the old one.
He said his customers, many of whom are elderly, found it too hard to get to the old location due to parking and accessibility.
"If they parked under Kmart and the lift was broken they had to go up the stairs - it was a real chore for them," he said.
"And after 2.30pm it's too hard to get in from the east because of the high school and the railway station roundabout made it harder the other way."
The business was located in The Levee for five years, and Mr Hincksman said they decided to make the move to East Maitland after strong customer demand.
"Since we've relocated our customers are saying it's much easier to get to," he said.
"They're much happier."