Additional Coverage:
- Citizens Bank Is Closing These 6 Branches in 2025 (Is Yours One?) (financebuzz.com)
Several Citizens Bank branches slated for closure, mirroring nationwide trend.
Citizens Bank recently announced the closure of several branches across the country. This move follows similar downsizing efforts by other major financial institutions, including Bank of America, Capital One, PNC Bank, TD Bank, and U.S. Bank.
The following Citizens Bank branches are among those scheduled to close:
Delaware
- Wilmington: 2084 Naamans Road
While Delaware currently has 16 Citizens Bank branches, Wilmington customers will still have five other locations available.
New York
- Brooklyn: 399 Atlantic Ave.
- New York: 1340 Third Ave.
- Rochester: 2255 E. Ridge Road
New York currently has a significant Citizens Bank presence, with 170 branches statewide.
Pennsylvania
- Erie: 4265 Buffalo Road
- North Wales: 1201 Knapp Road
Pennsylvania currently boasts the highest number of Citizens Bank locations, making it a primary target for closures.
The Larger Trend
Citizens Bank is not the only financial institution reducing its physical footprint. Over 320 bank branches have been marked for closure in the first quarter of this year alone, impacting banks such as TD Bank, Wells Fargo, and Bank of America.
Some states are being impacted more significantly than others. For instance, PNC Bank has closed over 20 branches in 2024, four of which were located in Pennsylvania.
The Rise of Online Banking
The primary driver behind these closures is the increasing popularity of online banking. As more customers manage their finances digitally – from depositing checks to reviewing balances – the need for physical branches has diminished.
Managing Your Finances in a Changing Landscape
While branch closures can be inconvenient, customers still have numerous options for managing their finances. High-yield savings accounts and cash-back credit cards are just a few examples of tools that can help individuals build wealth and maximize their financial well-being.
Here are a few additional tips for optimizing your finances:
- Prioritize Debt Reduction: Explore strategies like balance transfer credit cards and debt counseling to accelerate your progress toward becoming debt-free.
- Explore Additional Income Streams: Supplementing your income with a part-time job or side hustle can provide valuable financial breathing room.
- Reduce Expenses: Identify areas where you can cut costs, such as shopping around for lower auto insurance rates or utilizing travel credit cards to offset vacation expenses.
Read More About This Story:
- Citizens Bank Is Closing These 6 Branches in 2025 (Is Yours One?) (financebuzz.com)