Chase Bank to Close 23 More Branches: What You Need to Know (2024)

Chase Bank’s recent decision to close more branches across the United States has stirred concerns among its customers. Over the past five years, the bank has shut down 650 branches. This year, Chase plans to close at least 23 more branches.

Even though Chase is also opening new branches in other states, these closures can still affect many people. Here’s a detailed look at the closures, reasons behind them, and their impact on customers.

Chase Bank Branches Closing Soon

California:

• 5060 Arlington Avenue, Riverside, CA (March 7)
• 6950 Sunrise Boulevard, Citrus Heights, CA (March 7)
• 7160 N. 1st Street, Fresno, CA (March 14)
• 1030 W Alameda Avenue, Suite D-13, Burbank, CA (April 4)
• 18499 Hesperian Blvd., San Lorenzo, CA (May 14)
• 2201 Westwood Boulevard, Los Angeles, CA (May 23)

Chicago, Illinois:

• 3856 W 26th Street, Chicago, IL (March 15)
• 3101 West Cermak Road, Chicago, IL (March 15)
• 5200 Dempster Street, Skokie, IL (May 10)
• 4200 Dempster Street, Skokie, IL (May 10)
• 50 Skokie Boulevard, Wilmette, IL (May 10)

Colorado:

• 2251 South Monaco Parkway, Suite 102, Denver, CO (March 7)

Florida:

• 1319 State Road 7, North Lauderdale, FL (March 7)
• 240 N. Washington Boulevard, Suite 100, Sarasota, FL (March 22)

Michigan:

• 30730 Groesbeck Hwy., Roseville, MI (March 7)
• 30730 Groesbeck Hwy., Roseville, MI (April 5)
• 42 Broadway, New York, NY (April 19)

Indiana:

• 7001 Madison Avenue, Indianapolis, IN (March 15)
• 201 Main Street, Lafayette, IN (May 16)

Oregon:

• 10900 SE 21st Avenue, Milwaukie, OR (March 1)

Washington:

• 26603 72nd Avenue NW, Suite A, Stanwood, WA (March 15)

Why Is Chase Closing Branches?

Several factors contribute to the decision to close branches:

Increase in Online Banking: More people are using online banking, so banks are reducing their physical branches and focusing on digital services.

Cost Savings: Closing branches helps save money on salaries, rent, and utilities, which can be used for other investments or to increase profits.

Efficiency: Banks want to focus on more profitable areas. Branches that aren’t bringing in enough revenue are being shut down.

How Does This Affect Customers?

The closure of branches can be challenging, especially for some groups:

Elderly Customers: Older individuals who prefer in-person banking may find it hard to switch to online banking.

Social Security Recipients: People who receive Social Security benefits and are not comfortable with online services might struggle without nearby branches.

Alternatives and Solutions

Despite the branch closures, there are ways Chase and other banks are helping customers:

Mobile Banking: Customers can use their smartphones to manage their accounts, reducing the need for physical branches.

Customer Support: Enhanced online support and virtual assistants can help those who are adjusting to digital banking.

Chase Bank’s branch closures are part of a larger trend towards digital banking. While this shift brings efficiency and cost savings for banks, it can also create difficulties for customers who rely on in-person services. As the banking world changes, it is crucial for banks to support all their customers through this transition.