Police Bank has closed mainland branches and confirmed the redundancy and redeployment of dozens of staff.

Police Bank CEO Greg McKenna said the bank’s “refresh is about relevance to our members”.

“They have been clearly signalling to us that while branches remain important to them, they also want us to improve our product and digital offering. So that is what we are doing”.

The branch in Penrith will close while a couple of others are being moved within NSW Police Service premises.

“Branches in key locations will remain operational and the bank will shift its focus to designing products and experiences that are more aligned with the emerging needs of its members,” McKenna said.

Branch visits are down by 50 per cent since 2012 while contactless transactions exceed 30,000 a day.

Police Bank’s Sydney Branch will continue to operate, alongside those in Newcastle, Wollongong, Goulburn, Canberra, Narellan and Parramatta.

All four branches in Tasmania (where the bank trades as Bank of Heritage Isle) closed some weeks ago.