Northwest Savings to close branch on Chestnut Street
Because of an increase in alternative banking channels and a large drop in people traffic, Northwest Savings Bank is closing its West Chestnut Street branch in North Franklin Township and consolidating its operations at its Murtland Avenue location in South Strabane Township.
An employee at each site confirmed the consolidation will take effect April 26, but declined to comment further.
The company, however, explained in a news release that more customers are using services such as online, mobile and telephone banking, bill pay and ATMs – limiting the need to physically enter branches.
“Branch traffic and transaction volumes have significantly dropped (almost 25 percent in the last four years) and are lessening each quarter,” the statement said. “This movement led us to evaluate our branch network and consolidate some less-trafficked branches.”
Northwest said it has 181 locations in four states – Pennsylvania, Ohio, New York and Maryland – but is consolidating 24 branches and converting two to drive-through only. The company said employees at branches to be shut down either will be reassigned to nearby locations or released, with the offer of a severance package based on service time.
Northwest did not specify the number of West Chestnut employees who will be reassigned or released.
The branch at 260 Murtland Ave. opened 14 months ago, relocating from Walmart in the Trinity Point shopping complex, along with six employees who worked there. It has 2,600 square feet of operating space and is near the AAA travel offices, Interstate 70 and the Washington city line.
The phone number is 724-229-8400.