Chase Bank closes Rolling Meadows branch, taking town and customers by surprise
The apparent closure of a Chase Bank branch in downtown Rolling Meadows has surprised many people, from customers and city officials, to a representative for Chase and the new owner of the property.
Although a letter was sent last month stating that the branch and drive-thru at 3250 Kirchoff Road were due to close by August, a bank teller told city officials it could happen as early as the weekend. end of Memorial Day.
And although a sign at the main entrance says it is scheduled to close in August, the doors were already locked during banker’s hours on Wednesday.
Branch officials could not be reached, but according to the letter sent to customers and city officials, the closure was the result of a business decision.
“It’s unfortunate for all of the Rolling Meadows customers who bank there, including the city, but we have no control over when a business decision is made,” CFO Melissa Gallagher said Wednesday. . “We can’t influence them to say, ‘Hey, stay here.'”
But city leaders are in control of whether they will continue to do their banking with Chase, where they have held the city’s main accounts for eight years. They had already planned to launch a general call for tenders to banks next year.
Now, the closure of the local branch could put Chase’s future business with the city at risk.
“The city has always had the view that we like to shop and maintain business locally and support bricks and mortar, so generally we indicate in our bank tenders or any other tender that we would like. a presence in the town of Rolling Meadows, “Gallagher said.” A lot of things are electronic, but we also like to support business and bricks and mortar. “
The city changed banking providers from BMO Harris Bank to Chase after a similar bidding process nearly a decade ago.
“We have a long relationship with Chase Bank,” City Manager Barry Krumstok told city councilors last week. “Some of their services aren’t exactly the same as when we signed up with them – certainly with their customer service. But when we come out in 2022, that’s part of what we need to look at.”
After receiving the letter from the bank branch last month, city officials contacted their representative in Chase, who was unaware of the impending closure, Krumstok said.
The same goes for the owner who just bought the plot of the building from the bank a month ago.
“We were sort of their wake-up call, if you want to call it that, at that point,” Krumstok said.
Meanwhile, Gallagher drove to the nearest branch at 825 W. Euclid Ave. in the Palatine to make presentations between bankers and his employees who might stop to make deposits.
“There aren’t a lot of transactions at the bank. Most are online. But we always like to know who our local bankers will be,” said Gallagher.