The firm is currently consulting with staff across all departments and has warned them about the planned cuts.
Bankhall spokesman Richard Howells says the review is designed to ensure continued stability and increased profit levels. It says it looking to reinvest savings into services for its members.
“We have spoken to staff and put a number of people at different levels of seniority on risk in both member focussed and non-member focussed areas.
For example, we are looking at the commission department to see if we should offer a commission service in the same way we did previously.
If we don’t change with the needs of the members we won’t retain our value. But it is business as usual.”