The ANZ branch at Longford will close on January 25, 2018.
An ANZ spokesperson said the decision to close was based on a 42 per cent reduction in transactions, with more than 60 per cent of customers using digital banking channels.
“This was a difficult decision and one we did not take lightly,” the spokesperson said.
Longford accounts will be moved to the bank’s nearest branch in Prospect, approximately 20 kilometres away, with customer BSBs to remain the same.
Northern Midlands Mayor David Downie described the announcement as “very disappointing”.
"I know there are a lot of people in our community who like to have access to their banking first hand, especially our older population,” he said.
“It will certainly make banking less accessible for the people that need help.”
Mr Downie said not everyone feels comfortable using online formats to do their banking.
Lyons Liberal MHA Guy Barnett said he was particularly concerned about the way the closure will impact the elderly, people living with disability and small business retailers.
“Many people in Longford and surrounds will be affected by the closure of the face-to-face service currently provided,” he said.
ANZ delivered a net profit $6.4 billion for 2017.
Mr Barnett has asked ANZ to reconsider their decision.
He also questioned why the bank chose to close the Longford branch over the Ulverstone branch.