The Cherrywood branch of the Westpac Bank is among 19 mainly rural branches that will be closing down/

Other branches include; Kamo, Broadway Avenue in Palmerston North, Bishopdale in Christchurch, Gardens in Dunedin, Waikanae, Carterton, Raglan, Ranfurly, Te Aroha, Fendalton Mall in Christchurch, Putaruru, Whangamata,Takaka, Stoke, Wainuiomata, Te Anau, Fairlie and Otorohanga.

Westpac's Cherrywood branch is tipped to close. Photo: Google Maps.

First Union spokeswoman Tali Williams says Westpac's proposal to close the branches, mainly in regional towns, would result in 72 jobs being lost and 20 job transfers to other branches.

The "out of the blue" announcement upset a lot of staff, says Tali. "People were in shock, they're upset and also to be honest quite angry.

"It's an absolute surprise to them that there was any problem at all with their branches."

Last year Westpac reported a record $916 million profit - up six per cent on the previous year.

"What we're hearing from Westpac is these towns don't offer enough sales opportunities," says Tali

Banking strategies had also shifted from service delivery to selling debt. The majority of affected communities have high numbers of elderly and beneficiary residents who are difficult to sell products such as life insurance to, says Tali.

Westpac spokesman Chris Mirams says proposals had been sent to branches asking staff for their consideration and feedback.

"Once feedback has been received and evaluated a decision will be made. Staff and customers will be the first to know that decision and there will be no further public comment until then," says Chris.

Westpac will decide which branches will close by the end of September, with closures expected by the end of October.

- Stuff