U.S. Bank closing downtown Glenwood Springs branch
Decision tied to increase in online banking, less need for physical locations
While one Glenwood Springs bank is preparing to move into the downtown core, another is pulling up stakes at another prominent street-front location on the southeast corner of Eighth Street and Grand Avenue.
U.S. Bank recently informed customers and its landlord, Colorado Mountain College, that it will be closing the downtown branch at 802 Grand Ave. by May 5. The bank’s office at 1901 Grand Ave. will remain.
According to a statement provided Monday by Evan Lapiska, vice president of public affairs and corporate communications for U.S. Bank, the decision came down to a consumer trend toward online banking and less need for extra physical locations.
“Customers’ preferences and behaviors are changing, including a rapid migration toward digital and mobile banking platforms, and a desire for greater simplicity,” according to the statement. “As we evolve along with our customers, we are re-evaluating our physical footprint, and in some instances, consolidating a limited number of branch locations in select markets.”
The decision comes as ANB Bank recently won city approval to move its Glenwood Springs facility from the Penrose Plaza at South Grand and 27th Street to the 900 block of Grand Avenue. The new bank building is to replace several retail spaces on the east side of Grand in that block, to the south of the White River National Forest supervisor’s office.
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While closing some of its locations, U.S. Bank is also reinvesting in core retail banking markets this year in the form of new, relocated or redesigned physical locations, Lapiska added.
He said the bank is working with customers to ease the transition of services to the other Glenwood location, but he indicated there’s no guarantee of re-employment for the downtown workers at other U.S. Bank locations.
“Employees who wish to stay with U.S. Bank are encouraged to apply for openings at other nearby locations,” he said in the statement.
Meanwhile, CMC said in the statement that it has no immediate plans for the corner space once U.S. Bank leaves.
“We are working with U.S. Bank representatives to interpret the remaining requirements of the lease, so we do not yet know what our future plans are for that space,” according to a statement issued by CMC on Monday.
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