Bank Cuts Continues: Six More Colorado Locations Join the Ranks of Closures

Branch Closures Ahead: Colorado Residents to Lose Access to Several Banks

Photo byEvan WiseonUnsplash

There continues to be a push by banks to get their customers online, as seen by the number of physical branches being closed.

In 2021 a record twenty-one branches in Colorado closed down, which could be surpassed in 2023.

Each week the Office of the Comptroller of the Currency (OCC) releases a bulletin of banks set to close, and the list continues to grow. According to data from the Federal Deposit Insurance Corporation (FDIC), approximately 8,000 banks were in operation in 2000, but by 2022, this figure was halved.

One report states, "If the trend of current bank branch closings continues, there may be no bank branches left in 10 years."

This week several more bank branches in Colorado were listed to close.

While some people do their banking online, many still prefer to visit a branch to conduct their finances, so these closures will cause some customer concerns.

Colorado Bank Branches Closing

• JP Morgan. 2040 South University Blvd, Denver
• JP Morgan. 1555 Meridian Market View, Falcon
• JP Morgan. 9611 W 58th Ave, Arvada
• Wells Fargo. 34237 Highway 6, Edwards
• UMB Bank. 1400 Wewatta Street, Suite 103, Denver
• US Bank. 34353 Highway 6, Edwards

List of branches already closed in Colorado this summer

Already this summer, seven branches in Colorado have closed.

• JP Morgan. 17207 S Golden Rd, Golden
• Bank of America. 5077 E Colfax Ave, Aurora
• PNC Bank. 7375 Ralston Rd, Arvada
• First National Bank. 515 McCaslin Blvd, Louisville
• Key Bank. 3600 South Yosemite St, Denver
• Huntington NB. 8085 South Chester St, Centennial
• Wells Fargo. 359 Main St, Grand Junction.

This list continues to grow with new additions, so I will continue to update this list. If you wish to be updated with the latest developments, make sure you click the follow button.

Your thoughts

Do these branch closures affect you? Will you move to online banking? Should branches stay open for people who prefer to conduct their banking in person? Do you have confidence in your local bank? Will you switch to a credit union?

Please leave your thoughts in the comment section below and share this article on social media and with others so more people can join the discussion.