It’s a conundrum facing banks around the country and world with fewer people visiting branches to do in-person banking, what should be done with all that underused real estate?
Many banking chains have closed branches as consumers have migrated to more online banking. But a Connecticut bank has come up with a different strategy that its leaders say is working.
B. Michael Rauh, president and CEO of Chelsea Groton Bank (CGB), said customers still view branches as important, but aren’t using them as often due to the convenience of electronic transactions.