There is a banking exodus in Ohio as more stores close across the state. This is bad for many customers and towns. Huntington Bank is the most recent bank to shut down. On February 9, it said it would close its office in Buckeye, Ohio, a town in Cleveland.
Why Does Huntington Bank Want to Close Its Buckeye Branch?
Huntington Bank said that “safety fears” and “changing customer preferences” led to the decision to close the office in Buckeye. The bank said that there had been “multiple security incidents” at the store and that more customers were choosing to bank online or on their phones.
Some people in the area, though, don’t trust the bank’s logic and think it has more to do with making money and racism. The area of Buckeye is mostly made up of African Americans, and banks have not always been good at serving them. There will be no “banking desert” in the area if the store closes, which worries many people who use it for their financial needs.
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How Do People in the Area React to the Closing of the Branch?
The people in the area are not going to give up easily. They started a petition to save the branch, and so far more than 1,000 people have signed it. They have also held gatherings and protests outside the store, calling on the bank to change its mind.
Read more: Significant Bank Branches in California Have Been Unexpectedly Closed for 2024
Some people in the area have told the bank that they are angry and upset with it because they feel like it has broken their trust and loyalty. They say the bank has left the town and is making its economy worse by doing so. As well, they have said that they are worried about how the closing of the branch will affect their ability to get banking services, especially for low-income, elderly, and disabled people.
What Else Are There for Branch Users to Do?
There are not many choices for customers at this store. The bank has suggested that they can use other Huntington offices in the nearby areas, such as Shaker Square and University Circle. But these stores are hard for many customers to get to, especially those who don’t have cars or can’t use public transportation.
The bank also told them they could use its online and mobile banking services, as well as its network of ATMs and stores that work with the bank. But these choices aren’t right for everyone, especially those who aren’t good with technology or would rather talk to someone in person.
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They can also go to KeyBank, PNC Bank, Third Federal Savings and Loan, or any of the other banks or credit unions in the area. But this might come with extra fees and costs, like having to open new accounts, move money between accounts, change direct payments, and pay fees.
Conclusion
There was a lot of debate when Huntington Bank decided to close its Buckeye branch in Cleveland, Ohio. They said they did this because of safety concerns and changing customer tastes. The mostly African American community in Buckeye is worried about how it will affect their ability to use banks and the local business.
People in the area have started protests and a petition to show their distrust and stress how important the store is. The closing makes people worry about the possibility of a lack of banks in the area and shows how hard it is for people with low incomes, the old, and disabilities to get to financial services.