[ad_1]
Paul Heaberlin, Flickr
The US Bank has confirmed that eight of its branches in Minnesota that closed temporarily at the start of the pandemic are now closed permanently.
The bank formalized the closings in a submission earlier this month to the Office of the Comptroller of the Currency (OCC), with customers being notified in October.
The closed branches are:
- 301 W. Burnsville Pkwy, Burnsville
- 3M Center, Saint-Paul
- 401 14th Ave SE, Dinkytown, Minneapolis
- 130 W Superior Street, Duluth
- Inside Hennepin County Medical Center, Minneapolis
- 177 St. Croix Trail S, Lakeland Shores
- Inside Medtronic, Fridley
- Inside Normandale Community College, Bloomington
In a statement to BMTN, US Bank confirmed the closings, saying it announced in October that it would speed up the closure of its branches beyond the 15% it announced in 2019.
This will mean the closure of an additional 400 branches, with the bank having already closed around 300 branches in the past year.
It comes amid a major shift in consumer demand, with now 75% of all transactions and more than half of loans taken through the US bank’s website or app, as COVID-19 has “accelerated this digital banking transition “.
Subscribe to our BREAKING NEWS newsletters
“Approximately 18 months ago, we announced the Branch Transformation initiative to better serve our customers in light of their evolving preferences,” President and CEO Andy Cecere said in October.
“At that time, we announced that we would close 10% to 15% of our branches by early 2021. To date, we have closed around 10%. We now plan to close an additional 15% by early 2021. The vast majority of those additional closings were branches that were affected by COVID-19 and they will remain closed.
“Although physical branches and personal interactions are still important, we need fewer branches today than a few years ago, and the branches of the future need to be more advice centers and places where people can go. transactions take place. ”
[ad_2]
Source link