Almost 600 Melbourne jobs at the ANZ Bank have been saved after a leaked memo sparked a vigorous worker campaign.
ANZ management met with the Finance Sector Union (FSU) on Tuesday to confirm local jobs would not be moved off-shore after a plan to send jobs to New Zealand and The Philippines was leaked in June.
ANZ will instead close its site at Mulgrave in Melbourne's southeast and move the workers to its South Melbourne site in the CBD's southern outskirts.
The decision saves 340 staff at ANZ's Mulgrave call centre and a further 250 in South Melbourne.
FSU national secretary Leon Carter said workers had waged a strong community campaign to secure their jobs.
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"We made it clear to the bank that we are not going to go away," Mr Carter told AAP.
"As a institution that has the privilege of making billions of dollars in profit from the Australian community, they have an obligation to invest and grow jobs, not continually sacrifice them on the altar of profit."
He said the Commonwealth Bank does not send jobs offshore and remains Australia's biggest and most profitable bank.
FSU spokeswoman Leanne Shingles said the decision was a significant win for finance workers who had been under threat of off-shoring for many years.
"We've seen more than 6000 jobs go offshore in recent years," she said.
The union says workers have not been required to make any concessions in order to secure their positions.
The bank will move staff to the consolidated centre in the next 12 months.
