MELBOURNE, AUSTRALIA - Bendigo Bank on Wednesday became the first Australian financial institution to ask its workers to take unpaid leave because of the economic downturn.

It said asking its 4,000 workers to take two weeks unpaid leave over the next 12 months "represents the next generation of thinking" on managing expenses in tough times.

"The scheme is voluntary, but we anticipate a strong take-up," spokesman Owen Davies said.

"All businesses, not just banks, face these pressures and have responded in different ways to adjust their costs to fit uncertain revenues."

Australia's major banks have cut jobs in response to the global financial crisis but Bendigo, a smaller regional player, said it hoped to avoid redundancies and keep skilled staff.

Leon Carter, national secretary of the Finance Sector Union, said: "We would like to meet with Bendigo and talk it through and not just have some edict delivered from on high saying this is what we are going to do."

He added: "We would like to see a guarantee in writing saying that if staff take up this offer the bank will not lay people off."

Australia's banking sector has weathered the financial slump relatively well compared to its global peers as they have not needed the huge government bailouts that have kept banks afloat in other countries.

Its 'Big Four' banks - Commonwealth, Westpac, ANZ and NAB - have all reported writedowns due to bad debts but posted a combined total of 8.3 billion dollars (6.7 billion US) in interim profits in recent months.

Treasurer Wayne Swan has cited the banking sector's health as one of the reasons Australia has come through the financial crisis better than any other advanced economy and so far avoided a recession.