Store-Based Branch Banks Remain Popular
By Ross, Jim | |
Proquest LLC |
"You're getting a touch point with a customer that might not visit a brick-and-mortar location," said Carlson, senior vice president of retail banking for
Bank branches in grocery stores have been around since at least the 1900s in
According to data from the
Woodforest has 10 offices in
Neither would respond to request for comment for this article.
Other banks with store-based branches, according to the
Altogether, store-based branch banks in
The advantages for banks are twofold. Leasing space in a grocery store is less expensive than building a free-standing branch. And large, popular stores such as
Nationally, the judgment on store-based branches has been mixed. Some banks are exiting the market, while other large banks are moving in.
Store-based branches offer the same services that freestanding locations do, Carlson said.
People who work at the store-based branches offer insurance, investment, mortgage, loan, business banking and commercial banking services, he said.
"The strategy that we have is convenience for customers," Carlson said. "We run them as full-service banking centers."
Copyright: | (c) 2013 State Journal Corporation |
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