Mobile banking has turned errands that used to require a trip to the bank into a task as easy as taking out your smartphone. But even with the latest conveniences, branches haven't entirely outlived their usefulness—especially if you ever find yourself in a pinch. Unfortunately, many popular financial institutions have begun scaling back their physical locations as needs have changed. And now, Chase has announced it's closing another 23 branches in the coming months. Read on to see which locations will be going away and if you'll be affected by the changes.
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Chase just announced nearly two dozen branches will close within months.
ShutterstockIn the Weekly Bulletins announcement published by the U.S. Office of the Comptroller of the Currency (OCC) on Nov. 11 and Nov. 18, Chase announced it would be closing 23 branches. As agency policy requires notification of any bank closures within 90 days of their last date of business, this means the nearly two dozen locations will shutter within the next three months.
The affected brick-and-mortar banks span from coast to coast. New York will lose three branches, with locations in Cornwall, Corona, and Rochester shutting down. Across the state line, Connecticut will lose three branches, with two locations in Greenwich and one in Old Greenwich closing their doors for good.
Ohio also stands to lose two locations, with branches in Pataskala and Rocky River closing. Chase is also axing a location in Valparaiso, Indiana. And Illinois will lose two branches as one in Chicago and another in Woodstock will shut down.
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The changes will also affect locations throughout the western U.S.
iStockChase will be shutting even more branches further to the west. The bank will be closing one in Roseville, Michigan, according to the OCC's Weekly Notice. And Colorado will lose three branches with closures in Arvada, Denver, and Falcon.
The West Coast has a fair number of closures as well. Washington is losing two branches, with one location each in Seattle and University Place closing down. But it's California that stands to lose the most: The Golden State will be down six branches with closures in Garden Grove, German Oaks, San Diego, San Francisco, Valencia, and Wilmington.
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A spokesperson for Chase says the bank is still planning on opening more locations.
rblfmr/ShutterstockBut while some locations will be going away soon, some will be popping up in other places. In an email to Best Life, a spokesperson for Chase said that the bank expects to open a total of 185 new branch locations across the U.S. in 2023 while closing a total of 142.
"This includes relocations where we are repositioning our branches to better serve our clients," the spokesperson wrote. They added that the company is also on track to open a new branch every day in November and December, totaling more than 60 locations in total.
"We are the only major bank with significant investments in new branches, adding more than 650 over the last five years, including delivering on our commitment to build 400 branches in 25 new states," the spokesperson told Best Life. "Our goal is to have the right branches in the right communities to serve the financial needs of our diverse customers."
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Other major banks are also closing down branches in the coming months.
Diego Thomazini / ShutterstockChase isn't the only financial institution to list closings on the latest OCC Weekly Bulletin. In the Nov. 18 notice, PNC Bank announced it would be shuttering 21 branches in the coming months, too. The move will affect locations in eight states, including Alabama, Florida, Illinois, Michigan, New Jersey, Ohio, Pennsylvania, and Texas.
Bank of America is also adding to its growing list of closures. The agency's latest bulletin shows five branches listed, with locations in California, Massachusetts, New York, Texas, and Illinois on the chopping block.
And U.S. Bank will also be shuttering some of its locations. The company will axe seven branches across Illinois, Missouri, Ohio, Tennessee, and Wisconsin, per the OCC's notice.
