The only bank in Austin will shut its doors at the end of the year.
Northwest Savings Bank will combine that branch with one in Coudersport, 13 miles away, on Dec. 31, according to information from Northwest Savings Bank spokeswoman Melanie Clabaugh.
“The decision was made to consolidate our Austin and Coudersport branches after careful consideration and evaluation of customer trends and market conditions,” according to an email from Clabaugh.
In fact, brick-and-mortar banks are being replaced by lower cost and growing tech and mobile services, according to a report in the New York Post. In 2013, 1,487 banks closed down last year, 189 of that Bank of America.
In the first quarter of this year, SNL Financial found that 281 banks around the country closed, according to the New York Post.
Now later this year Austin will be part of the ever-growing trend. The community of a little more than 550 people has had a Northwest Savings Bank since November 2000.
But the planned closure at 21 Turner St. in Austin shouldn’t worry customers, according to Clabaugh.
“We will continue to proudly serve the residents and businesses of Austin and the surrounding area from our 11 full-service locations in Potter, Cameron and McKean counties,” according to an email.
And banking customers who visit branches in Coudersport and Emporium will see some familiar faces. Those are the locations where Austin bank employees will be transferred to, according to Clabaugh.
Customers have other ways of accessing their accounts as well.
Free online banking and bill pay are available, as are free banking access on the iPhone, iPad, Android or Android tablet. People can also securely deposit checks into their accounts using their mobile device. Banking is also available at 1-877-672-5678.
For now, the Austin bank is open from 8:30 a.m. to 1:30 p.m. Monday through Friday; 3 to 6 p.m. Friday; and 8:30 a.m. to noon Saturday. That bank can be reached at (814) 647-8641.
With headquarters in Warren, Northwest Savings Bank has more than 160 locations across Pennsylvania, New York state, Ohio and Maryland. The bank, which dates back to 1896, is a full-service financial institution that offers business and personal banking products, employee benefits and wealth management services, as well as business and personal insurance needs.
