Chase Bank Announces More US Branch Closures – The Complete List of Banks Saying Goodbye

The announcement of Chase Bank closing additional branches in the United States has sparked concern among its customers.

Having already closed 650 branches in the past five years, the bank is set to shut down 23 more across various states. Despite these closures, Chase plans to open 400 new branches in 25 states. The communities in nine states will be affected, although specific branches targeted for closure have not been fully disclosed yet.

Reasons Behind Chase Bank’s Branch Closures

The trend of bank branch closures is not unique to Chase Bank. The increasing popularity of online banking is a significant factor driving these decisions.

As more customers opt for digital banking, the necessity for physical branches diminishes. Banks, including Chase, are reallocating resources from maintaining physical branches to enhancing digital platforms. This shift helps reduce costs associated with salaries, rent, and other operational expenses, allowing savings to be reinvested into technology to improve online banking services further.

The Role of Smartphones in Modern Banking

The widespread adoption of smartphones has significantly influenced how people manage their finances. Opening a Chase Bank account can now be done entirely through a smartphone, eliminating the need to visit a physical branch.

This convenience has contributed to the decision to close underperforming branches. However, this trend poses challenges for certain demographics, particularly older adults who may not be as comfortable with digital banking or lack access to the necessary technology.

Impact on Communities

While digital banking offers convenience for many, it also creates difficulties for those who rely on traditional banking services.

The elderly and individuals dependent on Social Security, who might not be well-versed in using online platforms, are likely to be adversely affected. The closure of local branches can lead to a sense of disconnection and difficulty in accessing essential financial services.

List of Chase Bank Branch Closures in the U.S.

Here are the Chase Bank branches confirmed to be closing:

California

• 5060 Arlington Avenue, Riverside, California
• 6950 Sunrise Boulevard, Citrus Heights, California
• 7160 N. 1st Street, Fresno, California
• 1030 W Alameda Avenue, Suite D-13, Burbank, California
• 18499 Hesperian Blvd., San Lorenzo, California
• 2201 Westwood Boulevard, Los Angeles, California

Illinois

• 3856 W 26th Street, Chicago, Illinois
• 3101 West Cermak Road, Chicago, Illinois
• 5200 Dempster Street, Skokie, Illinois
• 4200 Dempster Street, Skokie, Illinois
• 50 Skokie Boulevard, Wilmette, Illinois

Colorado

• 2251 South Monaco Parkway, Suite 102, Denver, Colorado

Florida

• 1319 State Road 7, North Lauderdale, Florida
• 240 N. Washington Boulevard, Suite 100, Sarasota, Florida

Michigan

• 30730 Groesbeck Hwy., Roseville, Michigan

Nevada

• 2865 E Charleston Boulevard, Las Vegas, Nevada

New York

• 42 Broadway, New York, New York

Indiana

• 7001 Madison Avenue, Indianapolis, Indiana
• 201 Main Street, Lafayette, Indiana

Oregon

• 10900 SE 21st Avenue, Milwaukie, Oregon

Washington

• 26603 72nd Avenue NW, Suite A, Stanwood, Washington

The shift towards online banking is an inevitable evolution in the financial sector. While it brings numerous benefits, such as cost savings and convenience, it also presents challenges that need to be addressed to ensure inclusive access to banking services for all demographics.

The closure of Chase Bank branches reflects a broader trend in the industry, emphasizing the need for robust digital platforms and support for those less familiar with digital technology.

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