Bank of America shutting branches in Lakeport, Ukiah

Bank of America shutting branches in Lakeport, Ukiah

Bank of America is shutting its Lakeport and Ukiah branches, a blow to residents that are rural have observed an exodus of big bank retail areas from their communities stemming in good component from consumers’ move to online banking.

Both branches will close ?Nov. 11, spokeswoman Collen Haggerty stated.

“We constantly adapt our economic center community to suit customers’ changing requirements and practices, and also this choice is driven mainly by less base traffic inside centers as consumer banking behaviors gravitate to using more on the internet and banking that is mobile” Haggerty said in a contact declaration.

The closures will force Bank of America clients both in Lake and Mendocino counties to operate a vehicle to Healdsburg or St. Helena because their branch that is closest. Bank of America shut its Fort Bragg location in 2014.

Lake County residents in specific have actually a dearth of retail bank areas. As an example, Upper Lake residents have experienced no bank branches available since Westamerica Bank left the city in 2015.

Both counties have a more substantial populace this is certainly “unbanked,” meaning no grouped relative had a checking or family savings, and “underbanked,” where customers have actually a merchant account but additionally used services from an alternative solution provider, such as for example a payday loan provider or a check casher, in accordance with data through the Federal Deposit Insurance Corporation. Continue reading “Bank of America shutting branches in Lakeport, Ukiah”