Company official says a reduction in customer transactions prompts move
The Newberg branch of Bank of America is set to close May 9.
Britney Sheehan, bank media relations manager for the corporation, said the decision was not made in haste.
The decision to close a banking center is never an easy one and is driven primarily by a decline in transactions as customers increasingly rely on other channels such as mobile and online banking, she said.
The branch has been at 600 E. First St. for more than 20 years, and with closure the nearest banking location will be in McMinnville.
We mailed out customer notification letters (in late January), as we like to give more than 90 days advance notice and outline their banking options, Sheehan said. Its important to note that customers can still access all deposits and account services online, by mobile phone or at other banking center locations, including our McMinnville (about 11 miles away) banking center.
She said the closure will not affect automatic deposits or bill pay withdrawals, and an ATM will remain at the First Street location.
As for the banks employees, Sheehan said in the instance of a branch closure, Bank of America provides various forms of assistance, one of which includes helping them find other opportunities within the company. But they would not disclose the number of employees working for the branch.
As for future locations for banking centers, what I can tell you is that we are continuously evaluating our banking center network and make decisions where we see the right need and opportunity, Sheehan said.