Despite limiting on-site visits and adding more self-service channels, the industry is forging ahead with plans for hundreds of new or expanded brick-and-mortar locations.
The New Canaan, Conn., company said it will record a pretax expense of $3.9 million in the fourth quarter related to branch and office closings, severance payments and the end of a vendor contract.
Bank and credit union groups are pushing to include the industry’s front-line workers in the next priority group, but even as a recommendation is coming soon from a CDC advisory panel, the decision ultimately will be made state by state.
With coronavirus cases on the rise, Hoosier Hills CU in Bedford, Ind., has chosen to temporarily restrict access to its facilities. Observers say other institutions are likely to follow suit eventually, whether they want to or not.
